Daily market analysis - $ETH
The reference period is 2 hours. Yesterday we expected the price to drop to the 3120 area, and the actual price hit this range twice, at 3117 and 3118.
Although the price has stepped back to support many times, and the highs are gradually falling, this is usually a sign of a weak upward trend. However, there is no confirmation signal that the price has effectively fallen below the 3120 area. If the price falls below the 3120 area in the future, I personally recommend gradually reducing positions, especially for investors holding long orders. For the next layer of support, I will look at the 2850 area and the 2785 area.
