The movement of Ethereum follows that of Bitcoin. The volume of the recent rebound has been decreasing, indicating that the momentum is weakening. Yesterday, a long bearish candle with short upper and lower shadows was formed, suggesting that the price will continue to decline.
The support level remains in the red box area. Returning to this position and continuing to oscillate and adjust for a period before gaining strength and continuing to rise would be healthier.
The red box position (3020-3220) was mentioned before; it serves as a continuation platform for the daily level increase from November to December, so there will be strong support.
In the short term, just watch Bitcoin. Where the big brother goes, the younger brothers follow.
Daily resistance levels are 3550-3680-3825-4200, and support levels are 3220-3020-2870-2750.
The hourly trend is a retracement within the 4-hour pullback, showing a divergence in the 15-minute pullback.
In the short term, you can short between 3400-3560 and long at 3240, which is effective intraday.
From the Ethereum three-day liquidation heatmap data, we can see that
The price is rising, with a large number of significant short positions waiting for liquidation in the 3352-3492 and 3520-3620 areas.
The price is falling, with a large number of significant long positions waiting for liquidation in the 3296-3216 area.
