📣Ethereum short again take profit and exit, the end of the year is both an opportunity and a chance!
Tonight's layout: short positions in the Ethereum 2760-2780 range, with the price reaching this level and earning nearly 120 points again, all positions have been perfectly closed with profit!
4-hour EMA20, EMA50, and EMA200 moving averages are in a bearish arrangement, with the price continuously trading below these averages, which form clear resistance and reflect that the medium-term bearish trend remains unchanged. MACD indicator: The MACD line is below the signal line, with the histogram showing negative values and an expanding trend, indicating that bearish momentum is still strengthening, with no clear sign of a reversal. RSI indicator: RSI (14) is in the weak zone between 30-50, although not yet oversold, the low value shows market buying power is weak, and rebound momentum is insufficient. Bollinger Bands: The price is trading below the middle band of the Bollinger Bands, which are opening downward; the lower band provides some support, but the middle and upper bands are continuously declining, indicating an overall bearish trend.
Support levels: First support at $2675, a key emotional threshold; if broken with increased volume, further decline to $2630, $2600 is possible. Second support at $2600, an area of previous dense trading, with some buying support.
Resistance levels: First resistance at $2780, a former support level that was broken, likely to encounter resistance during rebounds; second resistance at $2900, an important short-term resistance zone with a large number of trapped positions, requiring increased volume to confirm a breakout.
Trend forecast:
If the price stabilizes and stops falling at the $2675 support level with decreasing volume, and a long lower shadow K-line appears along with a flattening moving average, a short-term technical correction may begin, with the rebound target first at $2780, and if broken, up to $2900.
If volume increases and the price breaks below $2675, the downward channel will further open, and the price is likely to test support at $2630, $2600, or even lower.
Future operation suggestions:
Short-term traders: mainly observe; consider entering light long positions after the price clearly stabilizes and stops falling, with a stop loss below $2675; when the rebound encounters resistance in the $2780-2900 zone, consider short positions with a stop loss above resistance levels.
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📣Ethereum short again take profit and exit, the end of the year is both an opportunity and a chance!
Tonight's layout: short positions in the Ethereum 2760-2780 range, with the price reaching this level and earning nearly 120 points again, all positions have been perfectly closed with profit!
4-hour EMA20, EMA50, and EMA200 moving averages are in a bearish arrangement, with the price continuously trading below these averages, which form clear resistance and reflect that the medium-term bearish trend remains unchanged. MACD indicator: The MACD line is below the signal line, with the histogram showing negative values and an expanding trend, indicating that bearish momentum is still strengthening, with no clear sign of a reversal. RSI indicator: RSI (14) is in the weak zone between 30-50, although not yet oversold, the low value shows market buying power is weak, and rebound momentum is insufficient. Bollinger Bands: The price is trading below the middle band of the Bollinger Bands, which are opening downward; the lower band provides some support, but the middle and upper bands are continuously declining, indicating an overall bearish trend.
Support levels: First support at $2675, a key emotional threshold; if broken with increased volume, further decline to $2630, $2600 is possible. Second support at $2600, an area of previous dense trading, with some buying support.
Resistance levels: First resistance at $2780, a former support level that was broken, likely to encounter resistance during rebounds; second resistance at $2900, an important short-term resistance zone with a large number of trapped positions, requiring increased volume to confirm a breakout.
Trend forecast:
If the price stabilizes and stops falling at the $2675 support level with decreasing volume, and a long lower shadow K-line appears along with a flattening moving average, a short-term technical correction may begin, with the rebound target first at $2780, and if broken, up to $2900.
If volume increases and the price breaks below $2675, the downward channel will further open, and the price is likely to test support at $2630, $2600, or even lower.
Future operation suggestions:
Short-term traders: mainly observe; consider entering light long positions after the price clearly stabilizes and stops falling, with a stop loss below $2675; when the rebound encounters resistance in the $2780-2900 zone, consider short positions with a stop loss above resistance levels.
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