The daily line is a small bearish candle with upper and lower shadows, the body of the bearish candle engulfs more than half of the previous bullish candle's body, and the trading volume is a quarter less than the previous day, indicating a wide range oscillation trend.
The daily MA30 line maintains an upward trend, and the MACD shows a weakening upward momentum above the zero axis. If today continues to close with a bearish candle, the MACD fast and slow lines will cross negatively, and the downward adjustment at the daily level will continue for some time.
In terms of performance, it is much weaker compared to Bitcoin; when Bitcoin rises, Ethereum falls, and when Bitcoin falls, Ethereum also falls.
Therefore, the next thing to pay attention to is Bitcoin's decline, which will pull Ethereum down. The daily MA30 line is an important support level, and a price around 2790 will be an excellent entry point.
Daily level resistance at 3250-3450-3535-3640, support at 2950-2790-2660-2570.
From the hourly level, currently, there is a 6-hour rebound showing insufficient upward momentum. In the short term, one can attempt to go long at 3060, which is exactly the support level of the 12-hour MA30 line. One can continue to go long at 2920 and short at 3240.
