$ETH Let’s take another look at Ethereum’s daily chart 🤔
Could it be forming a right shoulder?
Just a quick discussion
ETH’s larger daily structure is in a consolidation-and-bottoming phase after retreating from higher levels. The price is under pressure below the EMA50, and the rebound is a corrective move—it hasn’t reversed the daily trend yet. Its movement is correlated with Bitcoin.
Key levels
Strong daily support: 2345; secondary support: 2380
First daily resistance: 2480; strong resistance: 2566
Market outlook:
The daily chart has yet to establish an uptrend, so each rebound is vulnerable to resistance and a pullback. Only a daily close holding above 2480 can turn around the pressure on the daily chart and open the way up to 2566. If the daily candle closes below 2345, the daily structure will break down, triggering a new pullback and opening up more downside.
Trading plan: If the price retests the 2345–2380 support zone and holds, consider a small long position, targeting 2480. If the rebound loses momentum near 2480, consider shorting at higher levels.
Risk limit: Close the position without exception if the daily candle closes below 2331. If the price holds above 2480, abandon the short idea. #ETH走势分析
Could it be forming a right shoulder?
Just a quick discussion
ETH’s larger daily structure is in a consolidation-and-bottoming phase after retreating from higher levels. The price is under pressure below the EMA50, and the rebound is a corrective move—it hasn’t reversed the daily trend yet. Its movement is correlated with Bitcoin.
Key levels
Strong daily support: 2345; secondary support: 2380
First daily resistance: 2480; strong resistance: 2566
Market outlook:
The daily chart has yet to establish an uptrend, so each rebound is vulnerable to resistance and a pullback. Only a daily close holding above 2480 can turn around the pressure on the daily chart and open the way up to 2566. If the daily candle closes below 2345, the daily structure will break down, triggering a new pullback and opening up more downside.
Trading plan: If the price retests the 2345–2380 support zone and holds, consider a small long position, targeting 2480. If the rebound loses momentum near 2480, consider shorting at higher levels.
Risk limit: Close the position without exception if the daily candle closes below 2331. If the price holds above 2480, abandon the short idea. #ETH走势分析