$ETH: Don’t buy the dip just yet—the key is whether the rebound can hold
Trading volume has picked up a little, but price remains weak, leaving the short-term bias bearish. The close was below the moving average, and prices edged lower afterward. The slight increase in volume failed to lift the price, but this wasn’t a high-volume breakdown either.
Chasing the downside feels awkward. Downward momentum is already getting crowded, so it may be better to watch for a failed rebound: if price returns to the moving average above and volume picks up but it can’t hold, see whether it breaks below the low from before the rebound as it pulls back.
Keep one level in mind: 2405.3. If it holds, the next area to watch is 2392.3; if it fails to hold, place a stop-loss near 2411.8.
#TrendTrading
Trading volume has picked up a little, but price remains weak, leaving the short-term bias bearish. The close was below the moving average, and prices edged lower afterward. The slight increase in volume failed to lift the price, but this wasn’t a high-volume breakdown either.
Chasing the downside feels awkward. Downward momentum is already getting crowded, so it may be better to watch for a failed rebound: if price returns to the moving average above and volume picks up but it can’t hold, see whether it breaks below the low from before the rebound as it pulls back.
Keep one level in mind: 2405.3. If it holds, the next area to watch is 2392.3; if it fails to hold, place a stop-loss near 2411.8.
#TrendTrading