Today's ETH Trend Simplified Analysis - Bearish But Don't Panic, Focus on These Two Levels

Brothers, this market can be summed up in four words: 'Bearish Selloff', but don't rush to cut losses, let me break down three key points

MACD Indicator Has Sounded the Alarm

- The fast line (white line) has clearly crossed below the slow line (yellow line), and the bars are all green pushing down, this is textbook 'Death Cross'

This indicates that this drop is not a false move, it's a real bear attack. However, pay attention to the current position of the MACD; if it has continuously shown green bars below the zero line, it means the bears still have power

All Moving Averages Broken, 2400 is the Ceiling

- The price has plummeted like a waterfall from 2700 to 2377, directly breaking through all short-term moving averages. Now the integer level of 2400 has turned from support into a resistance level; every time it rebounds here, it is pushed back down by large orders.

To make a comeback today, we must break through 2400 with increased volume, otherwise, it will just be an ineffective rebound.

Trading Volume Exposes Main Intentions

- This drop has been accompanied by a significant increase in trading volume, especially with concentrated red bars appearing when it broke below 2500, indicating that large funds are fleeing. Interestingly, the open interest remains at a high level of 3.7 billion, indicating that bulls and bears are still in fierce competition; at this time, do not bet on the direction, wait for the market to choose its side.

Remember, this market belongs to a 'Technical Rebound in a Bearish Trend'; don't listen to the news hype, focus on the two key price levels of 2380 and 2450 for decision-making.

I am a turtle, supported by a top-notch team, only serving those with vision and ambition!