April 8th Second Doughnut End of Day 17:30 Market Analysis



Resistance at the high point: The price surged to 2,273.00 then quickly pulled back, oscillating around 2,250, forming a clear long upper shadow. This indicates heavy selling pressure in the 2,270-2,280 range, with bulls unable to break through, and upward momentum completely exhausted.
Moving average deviation: The price has significantly deviated from the MA7 (2,245.36), with a short-term overbought divergence, suggesting a strong technical need to test the moving averages, and a rapid correction could occur at any time.
Trading suggestions:
First take-profit target: 2,210-2,220 (near the MA25 line);
Second take-profit target: 2,170 (support at the previous consolidation platform);
Stop-loss only 50-80 points, with a correction space of over 200 points, and a risk-reward ratio of over 3:1. $ETH
ETH0,21%
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