Ethereum is at a critical technical game point:
On one hand, there are significant bearish signals with sharp declines and capital outflows; on the other hand, there has been a clear rebound and large buy-ins around $3,000. This makes shorting very cautious.
Ideal shorting position: wait for the price to rebound to the resistance area of $3,150 - $3,180, or more conservatively around $3,280. If there are signs of weakness in the upward movement (for example, a long upper shadow in the hourly chart), it may be a better opportunity for shorting with a higher risk-reward ratio.
· Key downward confirmation: If the price effectively breaks below the support range of $3,000 - $3,020, especially if the hourly close stabilizes below this level, it can be seen as confirmation of a downtrend, increasing the validity of shorting. The next target may be $2,880.
· Be sure to set stop-losses: Due to a large number of short liquidations above, any shorting operation must set a stop-loss. The stop-loss should be set above the key resistance level, such as above $3,350** or **$3,336, to prevent rapid losses caused by "short squeezes."
On one hand, there are significant bearish signals with sharp declines and capital outflows; on the other hand, there has been a clear rebound and large buy-ins around $3,000. This makes shorting very cautious.
Ideal shorting position: wait for the price to rebound to the resistance area of $3,150 - $3,180, or more conservatively around $3,280. If there are signs of weakness in the upward movement (for example, a long upper shadow in the hourly chart), it may be a better opportunity for shorting with a higher risk-reward ratio.
· Key downward confirmation: If the price effectively breaks below the support range of $3,000 - $3,020, especially if the hourly close stabilizes below this level, it can be seen as confirmation of a downtrend, increasing the validity of shorting. The next target may be $2,880.
· Be sure to set stop-losses: Due to a large number of short liquidations above, any shorting operation must set a stop-loss. The stop-loss should be set above the key resistance level, such as above $3,350** or **$3,336, to prevent rapid losses caused by "short squeezes."