ETH short-term forecast direction
Looking at the chart, the price of ETH (Ethereum) is currently trading at 2506.99 bearish.
Support and resistance levels
First resistance level: 2600.00
Second resistance level：2700.00
Moving Average (MA)
EMA7：3151.34
EMA30: 3275.39
Volume Analysis
The substantial increase in trading volume indicates that the market is under great selling pressure and investors are in a panic.
Bollinger Bands (BOLL)
The current price is near the lower Bollinger Band, indicating that there may be a short-term oversold rebound opportunity.
Suggested directions:
Entry point: If the price breaks through 2600.00, you can consider entering the market and going long.
Take profit position:
First stop profit position: 2650.00
Second stop profit position: 2700.00
Stop Loss: Set at 2550.00 in case the price falls again.
Combined with yesterday's direction forecast
Yesterday, the price fluctuated around 2,500 and failed to effectively break through the resistance level, indicating that there was heavy selling pressure from above.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!
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