September 8 ETH Market Analysis $ETH
From the daily chart, ETH is currently in a strong consolidation structure.
And the price has not fallen below the rising trendline.
So in my opinion, deciding to short now is too early.
Key supports below: 2470, 2466. Only if it goes down to here can the order book be considered to weaken somewhat.
On the daily chart within the smaller timeframe level, it’s at a high position with insufficient momentum.
It needs to pull back, find a support level, and then rebound.
For the intraday view: there will be a rebound, but the overhead resistance levels are clearly: 2520-2545.
Before there is an effective breakout, it’s still expected to trade in a small range.
If we expand the range: support is 2388-2355, and resistance is 2530-2620.
Trade suggestions: range trading.
Long low, short high. Do not trade the smaller timeframe unless the breakout level is broken and confirmed.
From the daily chart, ETH is currently in a strong consolidation structure.
And the price has not fallen below the rising trendline.
So in my opinion, deciding to short now is too early.
Key supports below: 2470, 2466. Only if it goes down to here can the order book be considered to weaken somewhat.
On the daily chart within the smaller timeframe level, it’s at a high position with insufficient momentum.
It needs to pull back, find a support level, and then rebound.
For the intraday view: there will be a rebound, but the overhead resistance levels are clearly: 2520-2545.
Before there is an effective breakout, it’s still expected to trade in a small range.
If we expand the range: support is 2388-2355, and resistance is 2530-2620.
Trade suggestions: range trading.
Long low, short high. Do not trade the smaller timeframe unless the breakout level is broken and confirmed.
