Market Analysis and Trading Strategy
#以太 Daily strong support level 2620 is the key defense line for bulls and bears. If it effectively breaks down (closing price continuously falls below this level for 2 consecutive candles), long positions can be initiated in the 2540-2560 range, where it coincides with the Fibonacci 61.8% retracement level and the weekly trendline, offering strong support.
Set a stop-loss at 2520 to exit, as 2520 is a psychological resistance level from previous highs, and breaking it may trigger selling pressure. If shorting at the current position, it is considered a counter-trend operation, so it should be tried with a light position, with the stop-loss placed at the previous high resistance level of 2650 and take profit targets at 2580-2560. Short-term attention should be on the signal for breaking below 2620, while in the medium to long term, the upward trend remains intact, and pullbacks still present opportunities to go long.
Note the 4 PM options expiration; Yang will arrange for entry shortly, stay tuned 👇111
