"Jack's Trading Classroom" ETHUSD Ethereum Short Review

Currently, we are looking at the one-hour candlestick chart of Ethereum, which shows a similar trend to Bitcoin, both forming a continuation pattern in the market - a symmetrical triangle.

The difference now is that the resistance trend on Ethereum has been broken, and after breaking through earlier, it rebounded to the previous high of the upward trend line. The next key level to watch is the previous high at 469.70. If this level is successfully broken, there is a high probability of continued strength.

Combining indicator analysis, the short-term EMA (Exponential Moving Average) has crossed upwards and is diverging upwards, indicating a typical bullish trend.

Both the pattern and indicators show a bullish trend. Short positions are recommended for short-term trading only, while long positions following the trend are the main strategy, which is more rational and objective. Support and resistance levels can be referenced from the black horizontal lines on the chart. Wishing you successful trading.