Ethereum's recent trend has already clearly turned bearish, so don't blindly buy the dip anymore!


Yesterday, Sister Meng led her followers to enter around 2383, with a stop loss near 60, and exited Ethereum at around 2422. The recent movement of Ethereum has already weakened significantly, rising to 2422 and then steadily declining, forming a "lower high and lower low" bearish structure. The moving averages are also starting to press downward, indicating heavy selling pressure in the market.
Currently, the rebound looks more like a weak retracement rather than a trend reversal, especially if it falls below around 2311 again, it is very likely to continue downward to 2290 or even 2250.
At this stage, it is not suitable to blindly buy the dip. It is better to wait for a rebound to a resistance level and then look for short opportunities. Unless it can regain volume and stay above 2420, the overall trend remains bearish.
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