Midnight ETH View
Resistance Level
2,600 (Psychological Barrier): A breakout could alleviate downward pressure, testing 2,630
Support Level
- 2,550: A break below will accelerate the drop towards 2,520 (downward flag target)
- 2,480 (Weekly Pivot Point): The last line of defense for bulls
🎯 Trading Strategy
- Bearish Trend Following:
- Entry: Current price 2,587, short with a light position
- Target: 2,550 → 2,520 (Stop loss 2,605)
- Add short position: If it breaks below 2,550, short to 2,480 (Stop loss 2,570)
- Bullish Counterattack Opportunity:
- Place long orders: 2,520-2,550 range (Stop loss 2,495), target 2,590
- Breakout to chase long: Volume breakout at 2,600, chase long to 2,630 (Stop loss 2,585)
