Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
ETH
The overall review of yesterday on January 7th indicates a downward trend. The price declined to the lower band of the Bollinger Bands and retraced. The retracement did not establish a solid position above the MA5. A second wave of decline brought the price to the lower band of the Bollinger Bands, resulting in a one-sided downward movement along the Bollinger Bands.
From the 1-hour chart of ETH, the Bollinger Bands are opening and closing within the range of 3238-3114. The midline is descending, corresponding to a price of 3175, with ETH at 3151.
Moving averages: MA5 and MA10 are parallel, corresponding to prices of 3164-3154. The 30-day moving average is declining at 3204. The 60-day moving average is rising at 3217, the 120-day at 3176, and the 240-day at 3086.
MACD: Currently below the zero line, bullish momentum is gradually decreasing, and the two lines are showing a downward turn.
RSI: 82-77. Currently in overbought territory, with both lines trending downward.
Resistance levels: 3227, 3270. Support levels: 3096, 3022.
ETH trend: Volatile downward.
Summary:
High-altitude strategy: Short position near 3227, add to position at 3270.
Low-position strategy: Long position near 3096, add to position at 3022.
First take-profit point for the high-altitude short: 3096. Second take-profit point: 3022.
First stop-loss for the low-position long: 3227. Second take-profit point: 3270.