Last night's market showed strong upward momentum initially, with obvious resistance around 2200, followed by a minor pullback. Overnight, it probed to 2192 again before rapidly declining, with the lowest point reaching 2117. Currently, price is consolidating around 2140, with obvious weakening of bullish momentum.
From a technical structure perspective, although the 4-hour chart broke through the midline with volume, the uptrend lacks continuity, showing instead consecutive upper shadows with obvious selling pressure from above. Meanwhile, the Bollinger Bands continue to run in a downtrend channel overall, with the trend showing no substantial change—this is more of a rebound correction movement.
In terms of strategy, continue trend-following operations with rebounds as opportunities, primarily taking short positions at higher levels.
Reference: Build short positions in batches around 2150—2180 Lower targets: Continue to watch 2080—2020 range $ETH #Gate13周年全球庆典
ETH Morning Analysis
Last night's market showed strong upward momentum initially, with obvious resistance around 2200, followed by a minor pullback. Overnight, it probed to 2192 again before rapidly declining, with the lowest point reaching 2117. Currently, price is consolidating around 2140, with obvious weakening of bullish momentum.
From a technical structure perspective, although the 4-hour chart broke through the midline with volume, the uptrend lacks continuity, showing instead consecutive upper shadows with obvious selling pressure from above. Meanwhile, the Bollinger Bands continue to run in a downtrend channel overall, with the trend showing no substantial change—this is more of a rebound correction movement.
In terms of strategy, continue trend-following operations with rebounds as opportunities, primarily taking short positions at higher levels.
Reference: Build short positions in batches around 2150—2180
Lower targets: Continue to watch 2080—2020 range
$ETH #Gate13周年全球庆典