Market Review
Ethereum fell below the daily gap as expected, with the lowest price around 3200, and the daily line closed with a long lower shadow. The suppression of the daily high of 3450 has lost its reference value. What is worth noting now is that MACD has increased in volume for the second time, and the fast and slow lines have successfully fallen below the zero axis and continued to move downward.
technical analysis
Daily chart
Trend: The bearish trend is obvious, MACD volume increases for the second time, and the fast and slow lines fall below the zero axis.
Support: 3200 forms short-term support.
Pressure: The high pressure of 3450 is no longer effective, and we need to pay attention to the new upward resistance.
Four-hour chart
Bollinger Bands: Starting to show signs of closing, with support below at 3200 and pressure above at 3380.
Short-term outlook: Focus on the support at 3200 and the upward pressure at 3380.
One-hour chart
Trend: The price has a certain rebound strength and smoothly enters the rising channel of Bollinger Bands.
Short-term support: 3320. If the price stabilizes above 3320, it will continue to slowly fluctuate and repair.
Operating range: 3420-3220.
Recommendations
Robust Strategy
Short on rebound: Place short orders in the 3380-3420 range, target 3250, and set stop loss at 3450.
Aggressive Strategy
Short-term short selling: short selling around 3320, target at 3200, stop loss set at 3350.
Summarize
Ethereum shows a strong bearish atmosphere at the daily level, but there is a possibility of shock repair in the short term. Investors are advised to pay attention to short-selling opportunities after the rebound to ensure the robustness and effectiveness of trading strategies.
