ETH
According to the latest real-time market data, the price of Ethereum (ETH) shows a relatively obvious support and resistance area in the reference daily K cycle. The $2870 area mentioned earlier failed to fully become a support. In fact, the lower shadow of the price has touched around $2810, which is comparable to some of the previous lower shadows, so the support area is now adjusted to $2810.
From the technical indicators, although the market has not yet fully entered the overbought area, it is expected that the price may test the $2810 support area again. This area is also the first profit-taking point (TP1) for short positions. If the price continues to fall and break through this level, the next support level will be in the $2389 area. However, considering the market dynamics, it is unlikely to fall directly to $2389 at one time, so it is recommended to consider reducing positions in the $2810 area.
In summary, $2810 is the key support area for the current Ethereum price. Investors can observe the market reaction here and adjust their trading strategies according to the further trend of the price. To learn more about the relevant knowledge and first-hand cutting-edge information of the currency circle, click on the homepage introduction to join us! Daily market analysis, high-quality potential currency recommendations
