Morning market analysis for #以太 !
Recently, ETH's rebound is often accompanied by deeper pullbacks, which typically signals the late stage of the rebound. Based on the current trend, there are roughly two possible scenarios for the upcoming market:
First scenario (blue path): If ETH's upward momentum is strong, quickly breaking through the 2148 level and challenging the indicated blue resistance area (around 2230), then it is crucial to pay attention to the breakout situation in that area. If it cannot effectively stabilize and form a volume breakout, the area around 2230 is likely to become the local high point of this rebound.
Second scenario (red path): If ETH creates another intraday low tonight but does not break below the indicated red support area, then we need to observe the strength of the subsequent rebound. If the upward momentum continues to weaken, ETH may not reach a new high above 2149, but directly end this rebound.
Trading suggestion: Friends who already have low-position spot or long positions are advised to start reducing positions in batches. This week's strategy is primarily “sell more as it rises,” which is more stable than chasing highs. Given that ETH is already in the late stage of the rebound, while gradually handling long positions, one should also prepare for subsequent short positions to respond to potential trend reversals.