$ETH The harder short sellers slam the market, the more attention should be paid to reversal opportunities!
Last night, ETH underwent another deep pullback and is now around $2,500. Long liquidations over the past 24 hours approached $300 million, with long positions massively flushed out!
But Wei Ge believes that after a sharp plunge, one should not focus only on the size of the decline, but also pay attention to whether selling pressure has been released and whether the price can stabilize!
Clearly, after dropping to $2,405 last night, the price quickly stabilized and rebounded, meaning that selling pressure has basically been released. Therefore, Wei Ge is now more focused on long opportunities,
Wei Ge recommends going long around $2,480-$2,490, with a stop-loss at $2,450 and a short-term target of $2,560.
Last night, ETH underwent another deep pullback and is now around $2,500. Long liquidations over the past 24 hours approached $300 million, with long positions massively flushed out!
But Wei Ge believes that after a sharp plunge, one should not focus only on the size of the decline, but also pay attention to whether selling pressure has been released and whether the price can stabilize!
Clearly, after dropping to $2,405 last night, the price quickly stabilized and rebounded, meaning that selling pressure has basically been released. Therefore, Wei Ge is now more focused on long opportunities,
Wei Ge recommends going long around $2,480-$2,490, with a stop-loss at $2,450 and a short-term target of $2,560.
