4.8 Awei Afternoon ETH Market Analysis

ETH current price at 2240 hits a new high again. The bullish trend is intact, but the short-term is already clearly overbought, and chasing the high carries significant risk.
From 1736 all the way up, nearly 30% increase. While the momentum is strong, signs of exhaustion are beginning to appear, and a correction could happen at any time.
On the daily chart, the price is above all moving averages, but the MACD red bars are shrinking, and the upper Bollinger Band is being pushed open, a typical sign that after a big rally, a pause is coming.
The four-hour chart is also strong, but overbought conditions are severe, and continued aggressive pushing is questionable.
For northbound trading, 2180-2200 can be entered lightly, with a stop loss at 2150, and a target of 2250. Do not chase the high.
For southbound trading, 2260-2270, stop loss at 2290, and target of 2220. If it breaks below, look at 2200.
In one sentence, the trend is bullish, but don’t get caught up at high levels. #WTI原油暴跌 #Gate广场四月发帖挑战 #加密市场回升 $BTC $ETH