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According to the latest Technical Analysis, Ethereum (ETH) presents a complex market situation across different time frames.
In the short term, the 1-hour chart shows positive signals. The moving average golden cross and the price being above the middle line of the Bollinger Bands suggest that upward momentum is accumulating. Traders may consider entering long above $3600, with target prices of $3840 and $4184, and a stop loss set at $3500.
The 4-hour chart shows a consolidation pattern. The price is oscillating between the VWAP and the 21-day moving average. It is recommended to wait for a directional breakout before proceeding with trades. A breakout above $3600 could be considered for a long position, while a drop below $3495 could be considered for a short position.
The daily chart shows a bearish trend. A death cross has formed and the MACD is negative, with the price below the 9-day moving average and close to the lower Bollinger Band. If the price breaks below $3332, short positions can be increased, with target prices at $2734 and $1769.
However, the weekly chart still maintains a medium-term bullish trend. The moving averages are well-aligned, and the RSI rebound confirms the medium-term upward trend. Investors can buy on dips above $3191, with target price levels of $4264 and $5190.
Overall, Ethereum is currently in a critical position. $3600 is an important watershed; breaking through this level will activate more bullish signals, while falling below it could trigger further declines. Investors should closely monitor this level and flexibly adjust their strategies based on signals from different time periods.
Regardless of the strategy employed, risk management is crucial. In the current volatile market environment, it is recommended to strictly implement stop-loss strategies to control the risk exposure of each trade. At the same time, one should also be wary of the potential impact of market sentiment and external factors on cryptocurrency prices.