The hourly trend synchronizes with Bitcoin, but the extent of the decline is greater, and the speed of the decline is much faster.
The daily line shows a long bearish candle with upper and lower shadows, and the trading volume is about three-quarters of the previous day, still maintaining normal trading volume.
The daily MA30 line is turning downward, and the MACD continues to show an increasing downward momentum.
The price rapidly fell, reaching around 2216, briefly breaking through the 2320 level we mentioned yesterday, then quickly rebounding back to around 2300. There will still be hour-level rebounds, returning above 2320, leading to a rebound upward trend.
The lower edge of the red box and the daily MA30 line have changed from support levels to resistance levels. It is advisable to short on rebounds; as long as Bitcoin's adjustment has not ended, Ethereum will still not perform well.
Daily level resistance at 2450-2560-2680-2770, support at 2200-2150-2000-1860
From the Ethereum liquidation heatmap, we can see that
the price is rising, with some large short positions waiting for liquidation in the 2316-2380 area, and a large number of large and extra-large short positions waiting for liquidation in the 2420-2548 and 2564-2644 areas.
the price is falling, with a large number of long positions being liquidated, and there are almost no long positions left to liquidate below; we need to wait for long positions in contracts to continue to accumulate.
