10.8 Ethereum Market Analysis

Yesterday, Ethereum surged to 4750, forming a double top on the daily chart, and then plummeted by 300 points. Currently, it is oscillating at a low level. The one-hour moving average formed a downward trend last night, and the Fibonacci retracement has been broken. In the future, long-term attention can be paid to the 4000 mark. The attached MACD has not shown a bottom divergence and there are no reversal signals. Overall, Ethereum has sufficient room for a pullback, and it is recommended to focus on bearish positions.

Trading Suggestions: Short in batches at 4450-4480

Targets: 4350-4250-4150

Risk Control: 4500