The weekly level of Ethereum shows a large bearish candle, which has wiped out more than two weeks of gains. It behaves like an altcoin, completely unlike the previous Ethereum. In front of capital, no matter how glorious you were in the past, you can only become a plaything of capital in the end. The rise of Ethereum will not end so easily; the decline is for a better rise. The sharp drop is to wash out positions, causing the majority to lose confidence, allowing the main force to pull up better. Continuing to decline at the weekly level, returning to the 2900-3100 range would be a good position for phased purchases, as the cost price of the majority of people's chips is indeed in this range, and panic will make many unable to hold on.
After a rapid decline and rebound at the daily level on Friday, there has not been a continued strong rebound, but rather a gradual downward slide.
According to our previous prediction, the price still needs to go to the red box area, which is the intermediate platform for the rise in November, to seek support.
The upper edge of the platform is around 3200, and the lower edge is around 3020. The support at the upper edge is not very strong; after a rebound here, the price will continue to go down. The support at the lower edge is relatively strong and just happens to be at the position of the weekly MA30 line, so making phased purchases at this position would be a very favorable trade.
The short-term trend still depends on how Bitcoin moves; the big brother leads, and the little brothers follow.
Daily level resistance is at 3580-3680-3825-4200, and support is at 3200-3020-2870.
The hourly trend is following a 2-hour pullback within a 1-hour pullback within a 15-minute pullback trend. In the short term, one can short sell between 3370-3460 and go long between 3200-3100, which is effective intraday.
From the three-day liquidation heatmap of Ethereum,
the price is rising, with some short positions waiting for liquidation around 3350, and a large number of significant short positions waiting for liquidation in the 3408-3516 area.
the price is falling, with a large number of significant long positions waiting for liquidation in the 3216-3160 area.
