The trend of ETH is currently weakening, and the magnitude of the retracement is also relatively large. Recently, we have seen that the trend of Ether is weaker than the big pie, so the rebound continues downward without much strength, and it currently falls near the lower edge of the channel.
The overall trend is in a bearish trend. We will observe whether this position will receive support and continue to test upward. Because the retracement is relatively strong and it is a relationship of oversupply, once a demand rebound occurs, we must pay attention to the vicinity of 1655. Once a top structure is formed If so, then we can be empty
Pressure level: 1650-1680
Support level: 1590-1560#ETH
The overall trend is in a bearish trend. We will observe whether this position will receive support and continue to test upward. Because the retracement is relatively strong and it is a relationship of oversupply, once a demand rebound occurs, we must pay attention to the vicinity of 1655. Once a top structure is formed If so, then we can be empty
Pressure level: 1650-1680
Support level: 1590-1560#ETH