Cryptocurrency Scholar: On March 26, Ethereum's converging triangle is about to change, one K-line will determine everything! Latest market analysis and thought reference
Ethereum is currently priced at 2165, ETH is stuck at 2165, neither up nor down, don't be fooled! This is not a bottom formation; it is a correction after excessive decline, and the long-term downtrend has not changed. The MA60 moving average is pressing down from above, unable to rise, while the south is gaining strength. The next K-line will determine the direction; blindly bottom-fishing or chasing highs can easily lead to losses. Following the trend is the right way.
The daily bearish framework remains unbroken, and the long-term trend still leans bearish. After the K-line fell from a high of 2385, it rebounded to the Fibonacci 0.786 resistance level of 2425 and encountered resistance, falling back. Currently, it is grinding near 2165, having not broken through the previous downtrend line, which is a technical recovery after excessive decline. Although the MACD red bars have increased, the DIF is still hovering near the zero axis, with insufficient upward momentum while downward remains dominant. Additionally, the K-line is currently under pressure near the MA60 line at the 2144 moving average, and the bearish arrangement of the moving averages has not been completely broken.
The four-hour change window has opened, with the K-line falling back from a high of 2385, gradually raising the lows and lowering the highs, forming a converging triangle consolidation pattern. The volatility range continues to narrow, with the MACD red bars continuously shrinking and the DIF showing signs of a death cross while upward momentum is diminishing. The key triangle upper resistance is at 2200, and lower support is at 2100. Once either side breaks, be prepared for any situation; safety first.
Short-term reference: (Practical data has been updated; consult the author for details)
Below 2120 to 2100 upward, stop loss at 2050, target at 2160 to 2180.
Above 2180 to 2200 downward, stop loss at 2245, target at 2120 to 2100. If it breaks below 2100, continue downward to 2080 to 2050.
Specific operations are based on real-time market data; for more information, please consult the author. There may be delays in article publication; it is advised for reference only and risks are borne by oneself.
