The hourly trend is synchronized with Bitcoin and does not have an independent market.
The daily chart shows a small bearish candle with upper and lower shadows. The body of the bearish candle is shorter than that of Bitcoin, and the trading volume is basically consistent with the previous day, showing no significant increase or decrease. The daily MA30 line remains flat, and the MACD shows increasing downward momentum above the zero axis.
The price on the hourly level first rose and then fell, returning to the lower edge of the red box area, which is also near the daily EMA52 line, where it found support and followed Bitcoin to make a rebound on the hourly level.
The daily level is still experiencing wide fluctuations; the price has not fallen below the daily EMA52 line and will continue to oscillate widely within the red box area.
If Bitcoin continues to fall, Ethereum will definitely follow suit, finding support near 2320 before rebounding again. A stronger support will be around 2530, which is also near the daily MA120 line. When it gets here, one can confidently enter the market.
Daily resistance levels are 2680-2770-2960-3060, support levels are 2450-2320-2200-2130.
From Ethereum's liquidation heatmap data, it can be seen that
the price is rising, with a large number of significant and oversized short positions waiting to be liquidated in the 2540-2750 area.
the price is falling, with a large number of significant long positions being liquidated. There are still a large number of significant and oversized long positions waiting to be liquidated in the 2484-2400 area.
