As expected, Bitcoin's decline brought Ethereum down with it. Similarly, after a rapid drop, it touched near the daily EMA52 line, forming a rebound trend with hourly-level oscillation. The difference is that Bitcoin closed with a bullish candle while Ethereum closed with a bearish candle.
The rebound position also reached the daily MA30 line, but at the hourly level, Ethereum's rebound only reached the 45-minute resistance level before it began to drop again with Bitcoin.
The daily chart shows a bearish candle with a long lower shadow, indicating that the downward momentum has not been fully released, and the price will continue to fall with Bitcoin to seek support levels.
The daily MA30 line has flattened out, and the MACD shows weakening upward momentum above the zero line, indicating a top divergence pattern. Therefore, any upcoming rises should be regarded as a rebound.
The daily EMA52 line (2420) remains the first support level, and a rebound is still expected when the price reaches this level.
Daily level resistance is at 2600-2730-2960-3060, and support is at 2420-2320-2200-2130.
The price is rising, as can be seen in the liquidation heat map at 5.
The price is rising, with a large number of large and extra-large short orders waiting for liquidation in the 2588-2748 area and the 2772-2920 area.
The price is falling, with a large number of large and extra-large long orders waiting for liquidation in the 2504-2392 area.
