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April 15th Big Cake Market Analysis
The major trend is upward. MA99 continues to rise. The long-term uptrend has not been broken. The pullback is only 4.7%, which is a normal retracement during an uptrend. There has been no trend-breaking support/resistance breakdown. MACD bearish momentum is weakening, and there are signs of a bullish divergence at the bottom. This indicates there is demand for an oversold rebound.
2300 support is relatively strong. It has been tested multiple times without effectively breaking down. First support: 2300-2301, currently a strong support in the short term.
Trading suggestions:
Entry: Wait for consolidation in the 2300-2310 range after the pullback
First target: 2360
Second target: Watch the previous high at 2400$ETH