Current ETH Price: $2,190
š Time: 1:30 AM Beijing Time
---
After the missed plunge at $2,560, few expected $ETH
to dive so quickly below $2,425. Confidence to go short near this level has thinned out ā not surprising, as many traders have either taken profit or been shaken out. Based on recent consultation feedback, a large portion of traders are now trapped short between $2,450ā$2,400, and many have locked in unfavorable positions with limited chips left in play.
But remember: the essence of trading is survival ā not catching every move, but staying in the game. Itās a phrase Iāve relied on for over a decade in the crypto circle, and one I hope my readers carry with them.
---
š Technical Overview
Daily K-Line Action:
$ETH dipped as low as $2,155 and bounced as high as $2,312 before the daily candle closed. After yesterdayās break below $2,400, a three-black-crow pattern emerged, reflecting strong bearish momentum.
EMA Trend & Volume:
Moving averages are diverging downward with volume expanding ā signaling an accelerated bearish channel.
MACD:
Clear bearish structure forming. Both DIF and DEA are heading to cross below the zero axis, a classic bearish continuation sign.
Bollinger Bands:
The lower band has breached $2,250 and continues downward, confirming short-term oversold pressure. Middle band resistance is now at $2,400. Unless $ETH can break above it convincingly, the downward pressure remains dominant.
---
š 4-Hour Chart Insights
ETH is channeling downwards with structure aligning toward the next key support around $2,050 ā not far considering recent volatility.
The 4H Bollinger band continues to widen, which is typically a sign of trend continuation ā in this case, downward. Support currently lies at $2,175 and is gradually lowering.
The price action around $2,200 shows signs of a short-term stabilization, suggesting a temporary relief bounce or sideways consolidation before the next decision point.
