#ETH
Yesterday’s rebound did not break above the 2318 high, but it was in line with expectations for a short-term oversold bounce. Structurally, the broader trend remains downward. Today, continue with the short-selling strategy, with resistance in the 2283–2300 range; only look to short within this range. There is no clear support below, and the daily chart still appears likely to return to around 2100. (A reminder: the decline in the early hours was steep and fast, with doji candles appearing frequently on the lower timeframes, making a rebound likely. Conservative traders should still only look to short at higher levels after a rebound, rather than immediately chasing the decline after support breaks.)
Yesterday’s rebound did not break above the 2318 high, but it was in line with expectations for a short-term oversold bounce. Structurally, the broader trend remains downward. Today, continue with the short-selling strategy, with resistance in the 2283–2300 range; only look to short within this range. There is no clear support below, and the daily chart still appears likely to return to around 2100. (A reminder: the decline in the early hours was steep and fast, with doji candles appearing frequently on the lower timeframes, making a rebound likely. Conservative traders should still only look to short at higher levels after a rebound, rather than immediately chasing the decline after support breaks.)
