$ETH

Ethereum just synchronized with Bitcoin's downward trend, and now it's rebounding above 2000.

Currently, the market is still in a volatile phase, and the slow decline is quite uncomfortable. The overall market trend is still bearish and has not changed; it can weaken further after already being weak, continuing to fall.

Recently, most of the liquidations have been among the long positions. It's difficult to trade in a bullish market, so I suggest that friends who want to go long can wait and see for now.

Currently, to look upward, at least the four-hour level needs to close above the 2160 area to safely enter long positions, or wait for a continued decline to test the support around the 1950 area. Most of the long liquidations are concentrated in this position.

The stable chip area on the daily level is around 1850. If it really hits this position, brothers should pay attention.

On the bearish side, the short-term view is still looking at a volatile downward trend. The next key levels are at 2000 and 1950. If there’s no rebound, just go short as per the trend. Once the support area above 1900 is broken, it will continue to drop further.

Daily updates on the market analysis of popular currencies; friends who like it can click to follow.