Ethereum (ETH) Daily Analysis


Yesterday, ETH sharply declined, giving back the gains from the past few days, and the bullish momentum was completely broken. The daily moving averages have turned downward, and a bearish alignment has formed. Market sentiment is clearly weak, and a short-term bearish trend has been established.

The hourly and four-hour charts are both under pressure. The support at the 2100 level has turned into resistance, with multiple rebounds being pushed back down. Trading volume continues to shrink, indicating that the bulls lack strength. Short-term bears are in control of the market, and the price has enough downward momentum to potentially test the 2000 level.

Trading Strategy
Gradually build short positions around 2085-2100
Target price range: 1950-2000
Follow the trend, strictly set stop-losses, avoid chasing highs and over-leveraging. The bearish pattern still has the upper hand. $ETH $BTC
BTC-2,92%
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