#ETH $ETH
Daily (medium- to long-term): Although the decline has met with some resistance, the bullish structure has already shifted. There is still room for further downside. The current downtrend will only reverse if price breaks above 2526. Daily support is near 2004.
1-hour (intraday direction): The continuation of lower highs and lower lows confirms the previous downtrend. For today, maintain a short-only outlook. The OB zone is at 2354–2363; treat this as a short-entry alert zone, then switch to the 15-minute or 5-minute chart to enter.
(Note that the current decline is facing resistance, with long lower wicks. Therefore, do not chase shorts as price makes new lows, to avoid being caught in a false breakout that sweeps liquidity. Only look to short at higher levels.)
5-minute (ultra-short-term): Price has reached yesterday’s low and its support zone, but the rebound is on declining volume while the sell-off is still on increasing volume. This can only be considered a position where bears are actively closing shorts, not the start of a rally. Strictly follow the higher-timeframe short bias and do not consider going long. Wait for price to return to the 1-hour POI before considering an entry.
Daily (medium- to long-term): Although the decline has met with some resistance, the bullish structure has already shifted. There is still room for further downside. The current downtrend will only reverse if price breaks above 2526. Daily support is near 2004.
1-hour (intraday direction): The continuation of lower highs and lower lows confirms the previous downtrend. For today, maintain a short-only outlook. The OB zone is at 2354–2363; treat this as a short-entry alert zone, then switch to the 15-minute or 5-minute chart to enter.
(Note that the current decline is facing resistance, with long lower wicks. Therefore, do not chase shorts as price makes new lows, to avoid being caught in a false breakout that sweeps liquidity. Only look to short at higher levels.)
5-minute (ultra-short-term): Price has reached yesterday’s low and its support zone, but the rebound is on declining volume while the sell-off is still on increasing volume. This can only be considered a position where bears are actively closing shorts, not the start of a rally. Strictly follow the higher-timeframe short bias and do not consider going long. Wait for price to return to the 1-hour POI before considering an entry.
