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ETH daily chart currently overall weak, last night with increased volume broke below a key area, short-term bears are favored.
Current key levels:
Resistance above: 1799 / 1959
Support below: 1535 / 1273
Short-term dividing line: around 1722
If the price continues to break below 1722 and cannot rebound back above, the bearish outlook remains unchanged, first look at 1535 below, strong support at 1273.
If the price stabilizes at the current position and reclaims above 1799, a rebound may occur in the short term, first look at 1959 above.
Currently, do not chase shorts or buy the dip prematurely, focus on waiting for a breakout or a pullback confirmation before considering entering the market.
$ETH