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ETHUSDT current price 2227, down 3%, with the lowest around 2203 in the early morning.
Looking at the order book, buy orders outnumber sell orders, indicating someone is willing to buy below.
The 1-hour RSI is just over 30, which is considered oversold, and the MACD green bars are also shrinking, so a short-term rebound is likely.
My own plan:
Place a small long position around 2220, with a stop loss at 2190, and the first target at 2280.
If the rebound lacks momentum, it's not too late to exit.
Do you think it can bounce back to 2300? Or will it continue down to 2000? Share your opinions in the comments.