$ETH Weekend Midday Market Analysis: Choppy Consolidation, Direction Still Unclear?
Guys, ETH’s price action is definitely a bit frustrating right now. This is a typical sideways recovery phase after a sharp crash. Let’s briefly break down the current market: we’re in an awkward spot. The current price of 2492 is just below the round-number level of 2500, leaving it caught in the middle. It’s been moving sideways here for two days, with no clear direction.
Earlier, the price plunged all the way from 2700 to 2405. That huge bearish candle with its long wick triggered a deep shakeout, flushing out the panic sellers. The resistance zone above is 2520-2550, a previous area of heavy trading where many holders are underwater. A breakout requires strong volume; without it, the breakout could be false. The support below is 2450 in the short term, followed by 2405, which is a hard floor.
At 2492, it’s neither clearly bullish nor bearish—being stuck in the middle is the most uncomfortable. Add in poor weekend liquidity, and jumping in could easily mean paying fees to the market makers. Lao Qi advises against opening a long position now. Wait for the price to hold firmly above resistance and then enter if a retest holds. The target is 2550-2600. For shorts, wait until the price falls to 2450 before considering an entry; otherwise, you could catch a falling knife. If your position isn’t large and you’re stuck holding at a high price, you can wait until Monday to see which way the market moves. If you’re on the sidelines and still don’t have a clear direction, don’t keep letting the market take advantage of you—keep your hands off!
The Plaza has a delay, and Lao Qi will keep a close eye on the market. Guys who want to get entry points, position sizing plans, and risk-control strategies as soon as possible, come to the pinned chatroom! #XRP财库公司Evernorth完成SPAC合并 $MAGIC $OGN
#Telegram预计推出Gram钱包
Guys, ETH’s price action is definitely a bit frustrating right now. This is a typical sideways recovery phase after a sharp crash. Let’s briefly break down the current market: we’re in an awkward spot. The current price of 2492 is just below the round-number level of 2500, leaving it caught in the middle. It’s been moving sideways here for two days, with no clear direction.
Earlier, the price plunged all the way from 2700 to 2405. That huge bearish candle with its long wick triggered a deep shakeout, flushing out the panic sellers. The resistance zone above is 2520-2550, a previous area of heavy trading where many holders are underwater. A breakout requires strong volume; without it, the breakout could be false. The support below is 2450 in the short term, followed by 2405, which is a hard floor.
At 2492, it’s neither clearly bullish nor bearish—being stuck in the middle is the most uncomfortable. Add in poor weekend liquidity, and jumping in could easily mean paying fees to the market makers. Lao Qi advises against opening a long position now. Wait for the price to hold firmly above resistance and then enter if a retest holds. The target is 2550-2600. For shorts, wait until the price falls to 2450 before considering an entry; otherwise, you could catch a falling knife. If your position isn’t large and you’re stuck holding at a high price, you can wait until Monday to see which way the market moves. If you’re on the sidelines and still don’t have a clear direction, don’t keep letting the market take advantage of you—keep your hands off!
The Plaza has a delay, and Lao Qi will keep a close eye on the market. Guys who want to get entry points, position sizing plans, and risk-control strategies as soon as possible, come to the pinned chatroom! #XRP财库公司Evernorth完成SPAC合并 $MAGIC $OGN
#Telegram预计推出Gram钱包