11.2 Ethereum 2500 key position, more or less?
Yesterday, the short position near 2510 for Ethereum was lost. The idea was to buy back after the drop to around 0.618, then initiate an upward movement, but the main force did not cooperate, resulting in a loss. Currently, the price is above 0.5.
Current price of Ethereum is 2507, daily K-line highest point 2587, lowest point 2465, daily K-line forms a cross bearish candle reflecting a struggle between bulls and bears, with significant divergence. Resistance above is at 2550 and 2583, support below is at 2480. The MACD fast and slow lines are forming a dead cross above the zero axis, KDJ three lines are pointing downwards, RSI is below 40, and the price is being suppressed by the EMA moving averages. The outlook continues to be bearish.
The four-hour Bollinger Bands indicate a downward channel, with all forming a cross star consolidation pattern, but the highs are continually declining. The MACD also shows a dead cross, indicating an overall bearish trend. Since there was a loss when shorting at this price yesterday, it is best not to open a position at the current price! One can consider going long at the lower 0.618 or shorting at the higher 0.38!
Ethereum's price movements are quite arbitrary, with inexplicable surges or crashes, so it is best to place limit orders!
Operational strategy: Short at 2532-2522 with a target down to 2469
Specific operations should be based on real-time conditions, as there may be delays in the article. Investment has risks, please set stop-losses accordingly. $ETH
