As mentioned yesterday, if Bitcoin does not drop, Ethereum can continue to rebound. However, if Bitcoin is going to drop, Ethereum will also drop along with it.
Currently, a top pattern has also appeared on the daily chart. After the price briefly broke through the red box area, it could not hold above the upper edge of the red box and continued to fall. The first support position is at the 12-hour EMA52, which is about 2544 now. The second support level is near the EMA52 line on the daily chart, which is around 2410. Both of these positions will have a rebound, but the strength of the rebound at the EMA52 line on the daily chart will be stronger. This position is also close to the lower edge of the red box.
In the short term, the main strategy is still to short on rebounds. The first pressure level for the rebound is 2660, and the second pressure level is near the upper edge of the red box at 2730.
Daily level pressure points are 2730-2960-3060, and support points are 2540-2410-2350-2200-2130.
From the liquidation heat map of Ethereum, it can be seen that
the price is rising, and there are a large number of large short orders waiting to be liquidated in the 2776-2920 area.
the price is falling, and a large number of long orders have been completely liquidated. There are no short orders waiting to be liquidated below, and time is needed for long orders to accumulate again.
