Crypto Circle Academician: Ethereum shorts sweep on 11.3! Bollinger band lower support will reach 2415! Latest market analysis reference
Current price of Ethereum is 2483, which is only a few points away from 2515 before yesterday's publication, but it already indicates that the short trend has opened up. Once the gap below opens, the space will enlarge, and the continuation of this situation may appear. However, regarding the long testing position around 2400, if it breaks below 2450, one must consider whether to take profit and exit the position.
The daily line opened low and continued to decline at eight in the morning. The EMA15 and EMA30 trend lines formed a death cross trend downwards. In the short term, shorts continue to hold and probe downwards. MACD volume decreases, DIF falls below the 0 axis, and DEA is also expanding downwards without finishing the space. The short trend continues, the Bollinger band is contracting, and the lower support is moving down from yesterday's 2430 to the current 2415, indicating there is still over 60 points of space below.
After the 2500 level was lost on the four-hour K-line, the EMA trend indicator has been continuously spreading downwards in a net-like manner, and the overall trend is still probing for a bottom in the final stage. The MACD bottom divergence trend appears, and DIF and DEA are expanding downwards. The Bollinger band is down, with the middle track resistance at 2535, and the lower track support has slightly adjusted to 2415. It is suggested to gradually exit shorts after breaking 2450.
Short-term reference: Safety first, remember that the market is never 100% certain, so always set stop-losses. Safety first, small losses for big profits is the goal.
On the 30th, the first target is 2720 for holding shorts, on the 1st, the second target is 2565 for holding shorts, aiming for 2450 and 2400. For breakouts, take profits in batches and aim for 2350 to cash out completely.
For the range below 2400 to 2430, go long, with a stop at 2350 to 2320 for adding to long positions, stop-loss at 50 points, aiming for 2470 to 2520, and for breakouts, aim for 2560.
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