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Recently, the price of Ethereum has been fluctuating between $4350 and $4150, showing strong volatility. The $4350-$4370 range, being a previous high, is forming a key resistance zone. It is noteworthy that the MACD indicator shows that long positions momentum is weakening, which may be related to insufficient volume.
Market focus is now on the key level of $4,350, and whether it can achieve a breakout has become the focus of investors. If the price can break through and then pull back, there may be short opportunities, and it is recommended to set the stop-loss around $4,390. On the other hand, if the breakout is accompanied by an increase in volume, it may signal to add long positions.
However, the market has recently experienced significant fluctuations, and adjusting strategies too frequently may lead to profit retracement. Therefore, it is particularly important to maintain a patient and cautious attitude. Investors should closely monitor market trends and adjust their strategies in a timely manner based on price movements and volume changes to adapt to the current challenging trading environment.