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$ETH Intraday Market Analysis
Direction: Slightly bearish, but do not chase the short positions.
Current price 1660-1670, rebound strength is weak, moving averages are in a bearish alignment, funds are continuously flowing out.
Trading suggestions:
Long positions: Wait for the price to drop to 1650, 1630, 1605 to buy in batches, stop loss at 1600, sell immediately if it breaks below. First target is 1720.
Short positions: Aggressive traders can try shorting with a small position at the current price, stop loss at 1720; conservative traders wait for a rebound to 1750–1770 before shorting, stop loss at 1800.
In a word: After a sharp decline, weak recovery, 1600 is the key level for the bulls.