ETH Current Status



24-hour decline of 4.80%, overall following the weakness of mainstream cryptocurrencies, short-term bearish sentiment is dominant, market is relatively weak.

Support/Resistance Levels

• Short-term support at 1950: very close to 1985, serves as the first defense level, once broken, the short-term weakness will further continue;

• Mid-term support at 1765, long-term support at 1385: key zones for gradual decline, the further down, the stronger the support;

• Resistance at 2225: an important resistance for recent rebounds, currently in a weak market, difficult to break through effectively in the short term.

Trading Ideas

• “Gradually buy in if it falls below 1600”: 1600 is below the 1765 support, belonging to a deep correction zone, this strategy aims to bet on an oversold rebound, but after a sharp decline, it may continue to fall in a single direction, with no absolute “safe bottom”.

• “Currently no bottom-fishing, no holding large positions”: combined with the current weak market trend, this risk control approach is reasonable, blindly bottom-fishing or holding positions in a weak market can easily amplify losses.
ETH-4.16%
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