A reminder for all investors! The current 1-hour K-line chart of ETH shows that you must not act blindly; instead, observe the changes!
Carefully analyze the market trend; the bearish forces dominate absolutely. The moving average system is in a bearish arrangement, continuously applying downward pressure,
The MACD indicator has formed a death cross, releasing strong bearish signals. Although there is a possibility of a rebound from the oversold condition in the market, as of now, there are no clear reversal signals. Entering the market recklessly at this moment poses a high risk. If you go long and the bears continue to exert pressure, your funds are likely to be deeply trapped; if you go short, a sudden oversold rebound could lead to instant losses. It is recommended that everyone patiently waits!
Wait for the price to rebound to the 2450 - 2500 range and observe if it encounters resistance and falls back; or wait for the price to test the 2367 support level, confirm the effectiveness of the support, and then make a decision. Entering the market now is no different from a gamble; cautious investors must avoid impulsiveness. Staying inactive for now is the safest strategy. If the price strongly breaks through 2500 later, you can follow the trend to go long; if it faces downward pressure at the key resistance level, decisively seize the opportunity to go short. If you want to learn more about bull market spot layout strategies, feel free to follow and leave a message for communication. Let’s work together to seize opportunities in the bull market and become true winners!
