Yesterday's surge led to a top divergence formation on the 2-hour level, and the 2-hour level is no longer sufficient to support the price to continue rising. Therefore, the price was fluctuating downward all day yesterday and has currently returned to oscillate near the 2-hour MA30 line.
In the short term, there is still energy for the hourly level to continue rising, but the energy is relatively weak, making it easy to surge once and then drop down towards the support levels of the 4-hour or 8-hour levels, and then rebound upward.
As mentioned yesterday, if the price continues to rise, the pressure will increase, so do not chase the highs. It is safer to wait for the price to pull back before entering.
Short-term long positions can be entered at 2510-2360, and short positions can be entered at 2750-2860.
Daily level resistance is at 2860-3065-3260, and support is at 2360-2260-2160-2000.
From Ethereum's liquidation heat map, it can be seen that
The price is rising, with a large amount of large and extra-large short positions waiting for liquidation in the 2616-2796 area.
The price is falling, with a large amount of large and extra-large long positions waiting for liquidation in the 2540-2352 area.
