The hourly level is similar to Bitcoin, showing a downward trend. Indeed, when it drops, Ethereum is never absent.
The daily line shows a bearish candle with short upper and lower shadows, and the trading volume is basically the same as the previous day, which is a relatively normal trading volume recently, without a significant drop in volume, indicating a normal downward retracement trend.
The daily MA30 line is still in an upward trend, and the price remains above the MA30. Therefore, the upward trend at the daily level remains unchanged. The MACD shows an enhanced downward momentum slightly away from the zero axis, so the adjustment at the daily level will continue.
Currently, the price has dropped near the 8-hour EMA52 line, which has support, but it is not at the main level. After the rebound, the price needs to approach the 12-hour EMA52 line (around 2440), so it is important to pay attention to the upcoming price rebound followed by a rapid drop to break the long positions.
The height of the hourly level rebound is around 2600.
Daily resistance levels are 2700-2820-3066-3300, and support levels are 2560-2440-2310-2200-2130.
From Ethereum's liquidation heatmap, it can be seen that
The price is rising, and there are a large number of significant short positions waiting for liquidation in the 2590-2824 area.
The price is falling, and there are a large number of significant long positions waiting for liquidation in the 2496-2452 area.
