Crypto Circle Liying: April 20th, Ethereum consolidates with decreasing volume, building momentum to challenge previous high resistance! Latest market analysis and trading suggestions

Family members! Ethereum is currently priced at 2325, with an upward trend structure. The upper band pressure is being watched. From a trend perspective, Ethereum is operating within a bullish pattern. The price is now at 2325, above the middle band of the Bollinger Bands, gradually approaching the upper band at 2406.06, indicating that short-term market dominance is held by bullish forces. Meanwhile, the key moving average system shows a standard bullish alignment, with the 7-day moving average at 2324 providing immediate support, the 30-day at 2369, and the 120-day at 2299 rising sequentially, collectively outlining a clear medium-term upward trend channel. Especially, the 120-day moving average acts as an important bull-bear dividing line; its steady upward movement below the price provides a solid foundational support for the overall trend. In summary, Liying observes that the price remains above the cluster of moving averages and operates between the middle and upper bands of the Bollinger Bands, establishing the current market’s main tone of oscillating upward. However, the upper band will also serve as an intuitive resistance level for short-term upward space.

However, momentum indicators reveal potential short-term consolidation needs. The MACD shows subtle signals: DIF is below DEA, and the green histogram bars continue to appear, which are often seen as signs of short-term momentum slowing or a technical correction. This signal resonates with the pressure at the Bollinger Band’s upper limit, suggesting that after a continuous rise, some bulls may choose to take profits, leading to a technical pullback. Nonetheless, such a correction is often viewed as healthy digestion within a healthy upward trend. Given the strong long-term moving average system and the price being far from strong support levels below, the MACD divergence more likely indicates a rhythm adjustment during the upward process rather than a trend reversal. Future focus should be on whether the moving averages below can provide effective support during a price pullback.

Short-term trading strategies (Liying’s precise market alignment):

Long position idea: Breakout above 2355-2360 with increased volume, open long, stop loss at 2320, target 2420 aiming for 2450

Short position idea: Break below 2296, short at 2290-2285, stop loss at 2330, target 2220 aiming for 2180

The market will always reward those who respect the trend and strictly follow the rules!

Note: The above analysis is based solely on technical logic by Liying and does not constitute investment advice. The market carries risks; invest cautiously. $ETH ‌#山寨币强势反弹