ETH Afternoon Market Operation Suggestions


From the 1-hour chart, the upward trend has been interrupted, with a lower high forming.
The short-term trend has entered a correction phase, with MACD forming a death cross and the red histogram turning green. Short-term bearish momentum is strengthening.
Currently, RSI is around 40, indicating a weak market sentiment. KDJ continues downward, and there is still a probability of further pullback in the short term. Trading volume has increased during the rebound phase, but now volume is clearly shrinking, and the market is in a consolidation phase.
Resistance levels: 2035-2050
Support levels: 2000-1980
Currently, it is in a correction phase after an upward move, with the key level at 2000.
If broken downward, the market may enter a deeper correction. ETH surged near 2088 and then pulled back; currently, the price is oscillating around 2020.
From a technical perspective, MACD has formed a death cross, and short-term bullish momentum has significantly weakened. Meanwhile, RSI has fallen back to around 40, indicating the market is entering a correction phase. The current 2000 is a key support level, with 2035 acting as short-term resistance.
If the market breaks below 2000, it may retest the 1980 area in the short term; but as long as 2000 holds, the market could still oscillate between 2000 and 2050#ETH
ETH-1,91%
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