#ETH Yesterday’s sharp Ethereum sell-off left many people feeling like they’d let their parents down again!
Looking at the candlestick chart, it shows a very typical pattern of consecutive breakdowns and declines from elevated levels:
After forming a consolidation range around 2790, the price plunged through all support levels with a large bearish candle, falling to a swing low of 2405.
The rebound after the low has been extremely weak—a modest bounce after being oversold, with no sign of a reversal backed by increased volume.
The overall trend has shifted decisively in favor of the bears, and the descending channel remains intact.
Outlook:
Short term: This oversold rebound is most likely a retest. The 2500–2550 range above is strong resistance, and it will be difficult for the price to break through it in one go.
Medium term: Once the rebound ends, the price is very likely to retest the previous low near 2400, and may even set a new short-term low.
For trading, don’t blindly chase long positions. It’s more favorable to wait for a rebound to resistance, then position for a short in the direction of the trend.
Keep position sizes under strict control. In such volatile conditions, high-leverage trades can easily get stopped out repeatedly.
Set stop-losses properly. If the price breaks decisively above 2600, the short-term bearish thesis will be invalidated, and you’ll need to adjust your outlook promptly.
Today’s strategy is ready; refer to live market conditions: @猫哥稳健翻仓王 #币圈暴富
Looking at the candlestick chart, it shows a very typical pattern of consecutive breakdowns and declines from elevated levels:
After forming a consolidation range around 2790, the price plunged through all support levels with a large bearish candle, falling to a swing low of 2405.
The rebound after the low has been extremely weak—a modest bounce after being oversold, with no sign of a reversal backed by increased volume.
The overall trend has shifted decisively in favor of the bears, and the descending channel remains intact.
Outlook:
Short term: This oversold rebound is most likely a retest. The 2500–2550 range above is strong resistance, and it will be difficult for the price to break through it in one go.
Medium term: Once the rebound ends, the price is very likely to retest the previous low near 2400, and may even set a new short-term low.
For trading, don’t blindly chase long positions. It’s more favorable to wait for a rebound to resistance, then position for a short in the direction of the trend.
Keep position sizes under strict control. In such volatile conditions, high-leverage trades can easily get stopped out repeatedly.
Set stop-losses properly. If the price breaks decisively above 2600, the short-term bearish thesis will be invalidated, and you’ll need to adjust your outlook promptly.
Today’s strategy is ready; refer to live market conditions: @猫哥稳健翻仓王 #币圈暴富