ETH Ethereum Intraday Brief Analysis + Trading Ideas

I. Market Overview
Ethereum recently experienced a sharp decline to a low of 1551.23, followed by a weak recovery from oversold levels, currently trading at 1619.24.
Bollinger Bands are opening downward, maintaining a bearish trend; MACD histogram is shrinking, indicating weakening bearish momentum. The current movement is only a rebound correction, not a trend reversal, with significant overhead resistance.
II. Key Levels
Support
Short-term support: 1610-1615
Strong support: 1550-1560 (lifeline of this decline's low)
Resistance
First resistance: 1655-1660
Strong resistance: 1683-1698
III. Trading Strategy
Short-term Short (priority with trend)
Short on rebound at 1655-1660 with resistance, stop loss above 1670, targets 1620→1590→1560.
Short-term Long (light position for oversold rebound)
If price holds above 1610, lightly go long with stop loss at 1605, target 1645-1655;
Only if price holds at 1555-1560, can you take a heavier position for the rebound.
Medium-term Direction
Before breaking and holding above 1698, maintain a short-on-rally strategy; avoid blindly bottom-fishing or betting on a reversal.
IV. Risk Control Reminder
This is only a weak correction after a major drop; do not chase longs. All trades must have strict stop losses, trade with light positions, and avoid risk from sudden spikes. #BTC下探60000美元关键关口 $ETH