ETH closed bullishly with volume in the evening session. Can the 4H upward trend break through 2200?

In the evening session, ETH/USDT is quoted at 2188.46, with a 24h increase of 1.75% (+37.63). The day's high is 2199.02, low is 2103.02, and the transaction amount reaches 725,870,696 USDT. Throughout the day, it strongly rebounded from a low of 2103, slightly retracing after reaching a high of 2199. Overall, the trend is strong, with a volatility of 42.19 points indicating high activity.

From a technical perspective, the 4H trend is upward, with the latest 4H candlestick opening at 2186.41, high of 2195.09, low of 2165.02, and closing at 2188.46, forming a bullish candlestick. The candlestick chart shows an upward trend, with prices above the blue and green moving average clouds, indicating a bullish advantage. The Qilin system V6.0 marks multiple signals, including bullish and bearish order blocks, necessitating caution for potential reversal risks. The most recent volume bar is red and expanding, indicating active selling but not reversing the trend, while the lower indicator panel shows intertwined multi-colored bars, supporting upward momentum.

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In terms of key price levels, short-term support is at 2165 (4H low) and 2103 (24h low), while resistance levels are 2199 (24h high) and the psychological barrier at 2200. The horizontal lines of the chart premium/discount zone provide additional reference; if it breaks below the discount zone, it may accelerate the downward probe.

Operational thoughts: The evening session closed bullishly with volume. If the next day holds above the support of 2180 and breaks above 2199 with volume, a small position can be pursued towards the target of 2200-2220, with a stop loss set below 2160 to control risks at 1-2%. Conversely, if the bearish order block is activated and it loses 2165, it is recommended to wait or take a light short position down to 2100. Emphasizing risk management in actual trading, position not exceeding 5% of total funds, with strict take profit and stop loss. The day's rebound has digested some positive factors, and the direction for the next day depends on the correlation with US stocks and BTC, maintaining rationality.

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