Market Review
Ethereum's high pressure on the daily chart is around 3430, and yesterday's short position at 3420 is currently close to a profit margin of 40 points. Aggressive investors can choose to continue holding and observe the subsequent downward space.
technical analysis
Daily chart
High pressure: around 3430.
Trend: The overall trend is downward.
Four-hour chart
Bollinger Bands: The price is still in a falling channel, forming an upward resistance level of 3410.
MACD: Bullish volume continues to increase, and the fast and slow lines rise at the bottom golden cross opening, showing a certain bullish power.
One-hour chart
Bollinger Bands: The price is moving in an ascending channel.
Support: If it falls below the 3380 support, a one-hour volatile market will form subsequently.
Operating range: 3440-3330.
Recommendations
Robust Strategy
Short on rebound: Place short orders near 3430, target 3330, and set stop loss at 3450.
Aggressive Strategy
Holding short positions: Those who shorted at 3420 yesterday can continue to hold. If the price breaks through 3380, they can continue to hold and look for further downside space.
Summarize
Ethereum is showing a downward trend in the short term. Investors are advised to pay attention to the short-selling opportunities after the rebound to ensure the robustness and effectiveness of the trading strategy. Conservative investors can choose to arrange short orders near key resistance levels, while aggressive investors can continue to hold existing short orders and pay attention to the subsequent support level breakout.
