Thursday, February 19th Market Analysis

The daily chart shows a clear downward trend recently, with large bearish candles on February 15th and February 18th, indicating heavy selling pressure and dominance of the bears.
The 1-hour chart indicates that after a volume-driven decline, the price has found short-term support around 1923.78 and experienced a slight rebound, but the rebound lacks momentum and has not effectively broken through resistance above.
The previous wave high points at 2010 and 2039 form a strong resistance zone above, while the previous wave low at 1923 serves as a key support level below.
MACD: On the 1-hour chart, the MACD DIF and DEA are both below the zero line, with the DIF below the DEA. The MACD histogram is negative and continues to expand, showing a strong bearish trend with no signs of reversal in the short term.
RSI: The 1-hour RSI(14) value is 41.29. It previously touched oversold territory and rebounded, but remains below 50, indicating the overall market is weak, with insufficient rebound momentum and no trend reversal yet.
EMA: The 1-hour price is below the EMA7, EMA30, and EMA120 lines, which are arranged in a bearish order (EMA7 < EMA30 < EMA120), indicating short-term, medium-term, and long-term trends are all downward. EMA30 (1973.88) and EMA120 (1993.51) form important resistance levels above.
ETH Trading Suggestions: Short around 2000, add on dips to 2050, take profit at 1960-1930-1890. Stop loss at 2100.
For long positions: Consider entering around 1920, add on dips to 1880, take profit at 1960-2000, and set a stop loss at 1850.