$ETH Last night, the price plunged to a low of 2405, and 2500 was decisively breached. Quite a few people who bought the dip earlier are probably now stuck holding their positions.
However, after falling to around 2400, the price bounced back and has now rebounded to 2500.
Looking at the 4-hour chart, the price is below the EMA lines, and there is considerable resistance in the 2540–2600 range.
The two key levels to watch next are 2400–2440, to see whether the price can hold there. We should only consider looking for a further rebound once it regains and holds above 2500.
On the other hand, if 2400 is decisively broken, watch out for another pullback toward 2350–2300.
As for trading, spot investors can consider building positions in batches! Yesterday’s strategy mentioned this, and I already opened a small long position last night after the wick dipped to just above 2405!
Follow Qiqi for more strategy analysis!
However, after falling to around 2400, the price bounced back and has now rebounded to 2500.
Looking at the 4-hour chart, the price is below the EMA lines, and there is considerable resistance in the 2540–2600 range.
The two key levels to watch next are 2400–2440, to see whether the price can hold there. We should only consider looking for a further rebound once it regains and holds above 2500.
On the other hand, if 2400 is decisively broken, watch out for another pullback toward 2350–2300.
As for trading, spot investors can consider building positions in batches! Yesterday’s strategy mentioned this, and I already opened a small long position last night after the wick dipped to just above 2405!
Follow Qiqi for more strategy analysis!