Good morning, brothers!
Let's take a look at what kind of market reaction Ethereum's recent performance has shown.
There was a large bearish candle on the daily chart, with a drop of 192 points yesterday, accompanied by a significant volume decline, indicating serious selling pressure in the short term. On the hourly chart, a downward channel is evident, and the pressure is also very clear. After a rapid drop following a rebound to around 2825 this morning, the highs are gradually moving lower.
On the technical side: The MACD shows a death cross on the daily chart, but there is a bottom divergence on the hourly chart; trading volume surged by 850,000 yesterday, far exceeding the 20-day average, indicating that major funds are fleeing. However, the current trading volume has dwindled, suggesting that market leaders are maintaining a strong wait-and-see attitude.
Suggested buy and sell points: Buy at 2750 with 2% of the bottom position using 100x contracts, add to the position at 2725 with 3% of the contract using 100x leverage, with a stop-loss set at 2700, considering both psychological and technical levels!👋
The take-profit point is set at 2825, the oversold point, and if it breaks through, look towards 2850. For short positions, set the stop-loss at 2875, which is a key resistance level!
Now is the time to seize the market opportunity; we just lack the motivation to act! Let's ride through the bull and bear markets together!
