ETH market analysis, a must-see!

Ethereum is currently in a consolidation phase at the ema 4-hour level support, with the 4, 6, and 8-hour moving averages all showing a bullish crossover below the waterline. The daily K-line indicates a bearish crossover above the waterline, but the bearish volume is starting to weaken. It is expected that the MACD yellow slow line will not drop below the waterline, and a rise is anticipated soon.

Ethereum has not retraced the 6-hour moving average support for the past two months since July 5. If it retraces to the 6-hour moving average in the next couple of days, it is possible to go long. The 6-hour EMA (4159—4221) range is a good entry for longs. A conservative profit estimate is $160, which is about 4 points up 🫣.

This wave of decline started after Powell turned dovish, and institutions did not significantly sell off. Therefore, I believe it is intentional to suppress bullish sentiment (which could erupt at any moment). There is a probability that the rate cut will be fully confirmed on September 18, so we need to start positioning long positions and spot trading one week before 9.18.

Trading Strategy:
ETH is currently supported by the 4-hour EMA near 4300, allowing for small capital to enter long positions to avoid missing out. If it drops to the 6-hour moving average, add another position. If it breaks below 4086, exit.

Conclusion:
Don't panic, the interest rate cut is definitely a positive signal, real money is flowing out, not something that can be digested in advance, remain bullish.
Moreover, in the past two days, the shanzhai has started to move in advance, with smart money laying out plans ahead of time.

#山寨币市场回暖 #非农就业数据来袭