ETH is under pressure in the afternoon session, can the discount zone hold the rebound?
During the afternoon session, the current ETH/USDT price is 2060.45, with a 24h decline of 2.47% (-52.14), a daily high of 2126.89, a low of 2034.54, and a trading volume of 666,096,846 USDT. The latest 4H candlestick closed with a small bearish candle, opening at 2061.49, high of 2066.31, low of 2043.49, and closing at 2060.45, with a recent volatility of 36.93 points. Although the overall trend at the 4H level is upward, the short-term market shows significant pressure.
From a technical perspective, the candlestick trend is downward, with the recent candlesticks in a downtrend, the price oscillating near the moving average, the state of the moving average is unclear, with intertwining red and green colors, and the price crossing alternately above and below. The chart signals are rich, including triangles, arrows, and text prompts like 'bullish OB' and 'bearish OB', indicating fierce competition between bulls and bears. The indicator panel highlights 'Discount Zone' and 'Premium Zone', with the current price close to the boundary of the discount zone, suggesting potential value support. The volume bars alternate between red and green, with volume characteristics not being obvious, lacking sustained breakout confirmation in direction. The information panel displays 'Qilin ETHUSD', marking 'Direction Long' and 'Entry 2114.5', but the price has fallen back below, requiring caution against signal failure.
In terms of key price levels, the short-term support level is set at the 24h low of 2034.54 and the latest 4H low
#tradingview #麒麟指标 #合约 #ETH #BTC 2043.49 nearby. If the lower edge of the discount zone holds, it can be seen as a foundation for a rebound; the upper pressure focuses first on the entry point of 2114.5, and then to the 24h high of 2126.89 and the upper edge of the premium zone. Daily fluctuations need to pay attention to the intersection of support and resistance lines.
In terms of operational thinking, the afternoon session should focus on tracking the evolution of the daily trend and changes in volume. If the volume expands and breaks below 2034.54, the short-term outlook is bearish, and short contracts could be considered, targeting below 2030, with a stop-loss set above the high point of 2066, controlling the position at 1-2%. Conversely, if the discount zone stabilizes with an increase in red bars, and the price rebounds after a pullback to 2043, a light long position could be taken, targeting 2114, with a stop-loss below 2034. Overall, the 4H upward trend remains unchanged, but the short-term downward risk increases, prioritizing risk management and avoiding chasing highs and cutting losses. In actual trading, strictly execute stop-losses and control drawdown.
This article only represents personal views and does not constitute any investment advice. DYOR.