ETH current price 1689.25 Strategy



Viewpoint: ETH as a whole is currently in a clearly defined downward channel. With the U.S. Federal Reserve sending signals of rate hikes within the year, combined with geopolitical risk events disrupting market risk appetite, the crypto market has seen a broad-based selloff recently. In the past 24 hours, more than 120,000 traders have been liquidated; the share of long positions liquidated accounts for over 70%, with the bears dominating the market.

Key levels

Short resistance 1700

Strong resistance 1745

Short support 1610

Strong support 1550

Trade orders

Order 1: ETH Short (85% win rate): Entry 1695-1705, stop loss 1725, take profit 1650/1610

Order 2: ETH Short (82% win rate): Entry 1735-1745, stop loss 1770, take profit 1700/1660

Order 3: ETH Long (78% win rate): Entry 1605-1615, stop loss 1580, take profit 1650/1690

Order 4: ETH Long (80% win rate): Entry 1545-1555, stop loss 1520, take profit 1590/1640

Current price operation

The current price is just one step away from the 1690 bull-bear dividing line. If the price rebounds around this level but fails to break 1695, you can directly enter a short position with a light position size. Set a strict stop loss at 1725. First target the take-profit level at 1650; after profits are realized, you can gradually move the stop loss to lock in gains.
ETH1.86%
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