It’s time to reduce positions and take profits for ETH and SOL! Analysis of key support and resistance levels
Today, let’s take a look at the hourly K-line of ETH and SOL. The market shows that it is the critical moment to reduce positions and take profits! We might as well put the profits in our pockets first, and the remaining positions will fluctuate with the market. After all, the bullish trend is still quite strong.
Operation suggestions for ETH and SOL:
ETH $2420
The current price of ETH has just encountered the resistance level of 2420, and it is also suppressed by the 576 moving average. Brothers, what are you waiting for if you don’t reduce your positions at this time? It’s the best way to take profits first! It’s up to you how much to reduce, but don’t be greedy. Keep some positions and continue to hold and observe the subsequent trends.
Pullback and position-adding strategy: If a pullback occurs, 2400 and 2370 below are key support levels, especially 2370, which is the last line of defense. If ETH falls below this position, we long positions should wait and see, and don't rush to add positions.
SOL around $140
SOL has now reached the strong resistance level of 140. At this key position, don't be too stubborn, and take part of the profit first, after all, the market may pull back at any time. Those who should reduce their positions should still reduce their positions decisively to avoid short-term pressure.
Pullback and position-adding strategy: If SOL pulls back, 138 and 136 below are key supports. Especially 136, once it falls below, brothers holding long positions should consider retreating, don't take the risk of continuing to hold.
Short strategy: If you didn't follow up with the short order at the beginning, it is not recommended to rush to short now, and wait for the support level below to break before starting. The current situation of uncertainty is risky and stop loss is difficult to control.
In general, now is to stabilize your mentality, put the profits in your pocket first, and wait for the pullback to end before deciding whether to add positions. After all, the market is changing rapidly, and we are doing steady trading. Don't let the short-term market fluctuations affect your mentality!
