2026.8.29 ETH intraday market
ETH surged to 2566 last night, but did not continue making new highs. Then a very clear high-volume long bearish candle appeared, dropping directly from around 2500 to 2405.
This indicates that there has already been clear selling pressure in the 2500–2566 range above, and based on the following K-lines, although the price rebounded from 2405, the rebound strength is not strong!
So we’ll first look at the rebound from 2400. The first target is 2460–2480. After a breakout, then look at 2500.
If 2400 is effectively broken to the downside later, it would mean EMA200 has also been lost, and then the downside could further extend to 2360 → 2320
ETH surged to 2566 last night, but did not continue making new highs. Then a very clear high-volume long bearish candle appeared, dropping directly from around 2500 to 2405.
This indicates that there has already been clear selling pressure in the 2500–2566 range above, and based on the following K-lines, although the price rebounded from 2405, the rebound strength is not strong!
So we’ll first look at the rebound from 2400. The first target is 2460–2480. After a breakout, then look at 2500.
If 2400 is effectively broken to the downside later, it would mean EMA200 has also been lost, and then the downside could further extend to 2360 → 2320
