$ETH Short-term bearish!
The bulls behind this ETH rally are running out of steam, while fresh capital is entering the market. After a large number of long positions have piled up at higher levels, it will be difficult to push prices up without fresh money stepping in.
Profit-takers will continue to exit, and the price will gradually fall back.
The current sideways movement is not a bottoming process. If the price rebounds to around 2450, holders trapped at higher levels will exit en masse, bringing another wave of selling pressure.
My personal suggestion is to consider opening short positions if the price rebounds to around 2450. The first target is 2380; if that level breaks, look to 2370.
The bulls behind this ETH rally are running out of steam, while fresh capital is entering the market. After a large number of long positions have piled up at higher levels, it will be difficult to push prices up without fresh money stepping in.
Profit-takers will continue to exit, and the price will gradually fall back.
The current sideways movement is not a bottoming process. If the price rebounds to around 2450, holders trapped at higher levels will exit en masse, bringing another wave of selling pressure.
My personal suggestion is to consider opening short positions if the price rebounds to around 2450. The first target is 2380; if that level breaks, look to 2370.