Market Review
Although Ethereum has bottomed out on the daily level, the overall bearish trend is still obvious, and there is no sign of stopping the decline. Currently, the high pressure level is at $3,520.
technical analysis
Daily chart
Trend: The overall bearish trend is obvious, and there is no sign of stopping the decline.
Key resistance: $3520.
Four-hour chart
Bollinger Bands: Prices are trading within the Bollinger Bands bearish channel.
Upside resistance: $3530.
Key support: $3,300, not $3,350.
One-hour chart
Bollinger Band: Open running, short-term support is at $3433.
MACD: Bulls continue to increase their volume, and the fast and slow lines begin to weaken after the golden cross at the bottom.
Recommendations
Aggressive Strategy
Short at current price: short around $3485, stop loss at $3520, target $3430-3400.
Robust Strategy
Short on rebound: short around $3,500, stop loss at $3,540, target at $3,450-3,400.
