Will Ethereum (ETH) fall below $2,100?
1. After August 5, Ethereum experienced a rebound and formed a large shock zone, which has been running in this shock zone for nearly a month.
2. The short position in the entire shock zone has shrunk, and the long position is slightly stronger than the short position.
3. The yellow line position in the figure belongs to a support in the shock zone. The current price has reached the support level and closed a hammer line with volume, and the market has stopped falling.
4. In the shock zone, although this wave of callback looks large, it actually did not break the previous low, which shows that the support below is very strong.
5. Yesterday's hammer line is very critical. It appeared near the support level and began to increase in volume, which shows that the bulls are ready to exert their strength. Judging from the above clues, the short force of Ethereum has begun to weaken, the bull force has begun to strengthen, and the possibility of continuing to fall below $2,100 has become very small.
