ETH Technical Analysis: Following BTC's Weakness, Key Support Levels Face Test Market Dynamics
Clear Correlation: Yesterday emphasized that ETH's movement depends on BTC. After BTC's breakdown, ETH fell synchronously, confirming the daily top pattern.
Key Breakthrough Failure: The price briefly broke through the red oscillation range (2660-2730) and quickly retreated, failing to hold the upper edge, confirming a false breakout.
Current Technical Structure
Short-term Support: The 12-hour EMA52 (around 2544) may trigger a slight rebound, but the strength is limited.
Core Support: The daily EMA52 (around 2410) coincides with the lower edge of the red oscillation range, where the rebound strength may be stronger.
Bearish Dominance: The price is below the key resistance level. If the rebound cannot break through 2730, the downward trend remains unchanged.
Operational Strategy
Mainly Short on Rebound: If the price rebounds to 2660 (first resistance) or 2730 (upper edge of the red range), consider gradually placing short positions.
Support Level Observation: If 2410 is lost, the next target is 2350; pay attention to the battle for this position between bulls and bears.
Trend Warning: Daily MACD momentum is weakening; avoid counter-trend bottom fishing before breaking through 2730 with volume.
Key Levels
Resistance Levels: 2660 / 2730 / 2960 / 3060
Support Levels: 2410 / 2350 / 2200 / 2130
Summary: ETH follows BTC into an adjustment phase; rebounds need to focus on the 2660-2730 resistance area, with 2410 being the dividing line for bulls and bears, maintaining an overall strategy of high shorts.
