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The current Ethereum market presents a complex situation. From the four-hour level trends, the price has retreated after reaching a high, but still remains above the middle band. This position has formed a certain level of support, indicating that the market still has some resilience. However, the MACD indicator has formed a death cross, which means that the strength of long positions is weakening in the short term, and market dominance is gradually shifting towards short positions.
Looking at a shorter time frame of one hour, we can see that the price of the coin is currently in a consolidation phase after a pullback. This state usually indicates that market participants are reassessing the situation, and a corrective rebound may occur in the short term after a downward move.
For the upcoming trading strategy, investors may consider looking for long positions around the $4500 mark, with a target price set at $4550. At the same time, it is important to closely monitor the movements of Bitcoin, as it often influences the direction of the entire cryptocurrency market. There may be opportunities to go long around $119500 for Bitcoin, with a target price looking towards $120500.
It is important to note that there is still a significant level of uncertainty in the current market. Investors should remain vigilant at all times, set reasonable stop-losses, and adjust their strategies promptly based on real-time market changes. During this phase of consolidation and fluctuations, it is especially important to maintain patience and calmness, avoiding being influenced by short-term market noise.