LIVEAffected by the fake news, ETH also surged in conjunction with BTC. However, the overall price is still in the downward trend channel. After pushing the pin upward to reach the upper limit of the downward trend channel, it still has not stabilized at the price of 1,600 US dollars. The short-term pressure is around the price of 1,580-1,600 US dollars. Judging from the BTC and ETH exchange rates, ETH has been very weak recently.
According to the previous article, although the short-term trend has been affected by the news in the short term, the view on the daily level remains unchanged. If it cannot effectively break through the pressure level of 1580-1600 US dollars at present, the overall market outlook will be on the right side to test the previous low. With the demand at the price of 1521 US dollars, there is a high probability of a false breakout to induce short selling, and then there will be a rebound and short selling market.
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The short-term thinking can be viewed this way. Ethereum is currently in a short-term downward trend channel. At the end of the shock, it may break below the downward track and accelerate the decline to hit the lower support level of around 1450 US dollars. It will create a short-selling market and then start a rebound (green dotted line) ), giving a clear direction judgment as a whole, mainly because of market analysis, a clear direction is given. No twilight zone. If it's right, just be right; if it's wrong, just correct it. For your reference.