Ethereum has recently surged strongly, breaking resistance at $2620, with a cumulative increase of over 800 points in three days. However, it experienced a technical pullback to around $2400 yesterday.
After the Bollinger Bands opened on the daily chart, the price fell back below the upper band. In the short term, attention should be paid to the support strength at the Fibonacci 0.382 level (approximately $2400).
The 12-hour candlestick chart shows two consecutive bearish candles along with a TD sequence high green 9 signal. If it effectively breaks below the MA10 moving average, it may trigger a deeper correction.
Short positions are out for now; I don’t want to make any significant trades and will just take some short-term profits.
Ethereum: Buy near 2380-2350
Stop loss at 2320, take profit at 2450-2490
