10.23 Uncle Chen’s ETH Market Outlook
A swift downward move flushed out bearish momentum. After support was established at the lows, the market gradually recovered. On the 15-minute chart, the moving averages turned upward after trending down, and a bottoming pattern is gradually taking shape.
Don’t keep chasing shorts after a sharp drop. The market is consolidating and building momentum, and the rebound is officially underway.
Recommendation
Long in the 2360–2380 range
Stop-loss: 2350
Targets: 2450–2480 #ETH
A swift downward move flushed out bearish momentum. After support was established at the lows, the market gradually recovered. On the 15-minute chart, the moving averages turned upward after trending down, and a bottoming pattern is gradually taking shape.
Don’t keep chasing shorts after a sharp drop. The market is consolidating and building momentum, and the rebound is officially underway.
Recommendation
Long in the 2360–2380 range
Stop-loss: 2350
Targets: 2450–2480 #ETH