$ETH Ethereum has a problem now, which is actually the problem of all currencies except Bitcoin and Dogecoin. In the past three days, a daily top pattern has been formed, and it is currently below the 5-day moving average. If the closing price today cannot go up, for example, Ethereum cannot close above 3220, the daily line will go down. The first target position is 3068, and the second target position is around 2830.

In the short cycle, if 2-3 does not diverge internally, then 2 is likely to become the starting point of the daily line, and it will become a situation like 2-4 instead of consolidating at a high level. Therefore, the rebound strength after 3 is in place today is very important. If the rebound strength is strong, for example, it reaches above 3220, there is a possibility of sideways trading at a high level in the future, otherwise the daily line will inevitably go down in one stroke.