Ethereum Price Recovery Triggers Trading Opportunities Amid Narrow Range
Ethereum's price has been showing signs of recovery after declining below $2400 the night before last, according to Zhang Lihui. On the 1-hour chart, the short-term K-line is supported by the EMA300, and the price is currently testing resistance at the MA180 and upper band area.
The short term sees Ethereum oscillating within a narrow high range with no clear sign of a breakout upwards. On the 4-hour chart, Bollinger Bands are narrowing, with the upper band compressing below yesterday's early morning high. The lower band is also narrowing, forming short-term bullish support with the EMA60.
KDJ and RSI indicators are turning upwards near oversold territory, indicating there is still some upward room. However, the fast and slow lines have not yet achieved a golden cross. In the short term, the main strategy remains to prioritize selling at highs.