ETH's afternoon upward channel is solid, can it break the 2179 high?

During the afternoon session, the current price of ETH/USDT is 2171.89 USDT, with a 24-hour increase of 1.47% (+31.39), a high of 2179.73, a low of 2103.02, and a trading volume of up to 674,795,096 USDT, showing decent capital activity.

Market overview: The 4H trend is clearly upward, with the latest 4H K-line opening at 2158.53, a high of 2179.73, a low of 2156.83, and closing at 2171.89, forming a solid bullish candle, indicating increased control by bulls. The intraday volatility is 64.1 points, and the afternoon trend continues the morning's upward momentum, but caution is needed for changes in volume; if trading expands, it will be more powerful.

Technical analysis: The K-line trend is upward, with the recent K-line being a bullish line, overall direction is bullish. The chart shows two horizontal lines that may indicate key support and resistance levels, without moving averages, cloud layers, or subplot indicators, purely K-line structure supports judgment. In the short term, the price is operating in an upward channel, with bulls accumulating in the afternoon, and no obvious divergence has appeared.

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Key price levels: Support level at 2156.83 (4H low), if it falls, look for strong support near 2103.02 (24H low); resistance level at 2179.73 (24H high), breaking above can target the 2200 round number. During intraday fluctuations, these levels will become the focal point of the bulls and bears.

Operational thoughts: The afternoon bulls are dominant, suitable for short-term following the upward trend; if the price stabilizes above 2171 and accompanied by increased volume, a light long position can be taken with a target of 2179-2200, stop loss set below 2156, risk-reward ratio above 1:2. Conversely, if it falls below 2156, switch to a bearish defense, watching for support at 2103. Emphasize risk management in real trading, with positions not exceeding 2% of total capital, strict stop losses to avoid chasing highs and panic selling. The opportunity lies in the continuation of breakthroughs confirmed by volume, but the crypto market is ever-changing, so maintain rationality.

This article represents personal views only and does not constitute any investment advice. DYOR.