Ethereum Intraday Trading Strategy: Range Breakout Trading in a Volatile Market
Ethereum is currently continuing its sideways volatility pattern, having reached the resistance level of 2980 overnight but failing to stabilize effectively, with a rapid decline highlighting insufficient short-term bullish momentum. Combining recent market sentiment and technical structure, the core of intraday operations revolves around key range breakthroughs, requiring strict risk control and following the trend.
Key Levels: The upper resistance focuses on the 2980-3015 range, which is both the upper bound of recent fluctuations and overlaps with the area of concentrated short-term trapped positions. Without a breakthrough, the rebound space is limited; the core defensive support below is 2880, which is the lower bound of recent fluctuations and aligns with the on-chain capital defense range. Losing this level will trigger a new round of selling pressure, looking down at the step-like supports of 2800, 2700, and 2600. If a strong breakout above 3015 occurs, the upper rebound target will aim directly at around 3100, and it is essential to monitor whether this level can form effective support.
Trading Strategy:
1. Breakout Long: If the price stabilizes above 3015 with increased trading volume, a light position can be followed, with a stop loss set below 3000 and a target of 3100, taking profits in batches.
2. Breakdown Short: After breaking below the 2880 support, wait for a retest to confirm the inability to rebound before entering, with a stop loss set above 2900 and targets sequentially at 2800 and 2700.
3. Range Volatility: Within the 2880-2980 range, it is recommended to mainly observe and avoid frequent trading. If a pullback occurs to the 2880-2900 range, a small position can be attempted long; if rebounding to the 2960-2980 range, a short can be attempted, with stop losses set outside the range.
Risk Warning: The current crypto market has relatively weak liquidity, coupled with non-farm data, the Bank of Japan's resolution, and other events as catalysts, which may trigger false breakout situations. Operations should have stop losses in place, controlling positions to not exceed 30% of total funds, and closely monitoring changes in market volume to avoid blind chasing of orders. $ETH
