August 2nd ETH evening thoughts:


U.S. stocks weakened due to disappointing non-farm payrolls and Trump's "reciprocal tariffs" impact, with the Nasdaq falling over 2%. Coupled with macro sentiments, the market may enter a 2-3 month adjustment period, where bearish forces are expected to be released.
Technical outlook is bearish: The price is moving along the lower Bollinger Band of the four-hour chart, following a large bearish candle with no volume recovery. The Bollinger Band is widening downwards, with no clear support and no bottom in sight. The strategy remains to short on rallies throughout the day.
Suggestion: Short ETH in the range of 3550 - 3580, aiming first for 3400 - 3320, with a long-term target of 3100. #ETH#
ETH6.18%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)