ETH's shocking plunge of 50 points! Behind the 'dive' from the high of 2524, have the whales started bottom fishing?
Today, ETH plummeted by 50 points. The hourly candlestick chart shows that it was previously in an upward trend, reaching a high of 2524.41 before encountering strong resistance and pulling back. The sharp decline may be due to macroeconomic changes, shifts in market sentiment, significant news impacts, such as global liquidity tightening or rumors of cryptocurrency regulation causing panic selling.
Technically, the high-level candlestick reversal and break below key moving averages have disrupted the short-term upward trend, leading the market into a correction, with increased selling volume and strong selling intent.
Future trend judgment
In the short term, ETH may oscillate downwards. Market sentiment recovery and investor confidence restoration will take time, with support around 2406.45. If it stabilizes effectively, the decline may ease into oscillation; if it breaks below, it will further explore downward.
In the medium to long term, ETH has fundamental support. As a leader in smart contracts, it has wide applications in DeFi, NFTs, and other fields, with continuous technological ecosystem advancement. After short-term adjustments, it may return to an upward trend.
Future strategy and specific buy/sell points
Short-term strategy: Market sentiment is unstable, it is advisable to cautiously observe. Heavy holders can reduce positions when rebounding to key resistance levels, while those with no positions should not blindly bottom fish, waiting for stabilization signals.
Sell point: The price rebounds to the 2467.07 - 2500 range and encounters resistance, reduce positions on the highs.
Buy point: The price finds effective support around 2406.45, and rebounds with increased volume, candlestick shows reversal pattern, MACD shows bullish divergence, lightly try going long.
Medium to long-term strategy: This decline may be a layout opportunity, pay attention to support level performance and market environment. If ETH stabilizes at the support level and sentiment warms, buy on dips.
Buy point: The price effectively breaks and stabilizes in the 2460.12 - 2467.07 range, with moving averages in a bullish arrangement, considered a buy signal, add positions.
Follow the candlestick judge, helping you see beyond the surface, remain calm in both bull and bear markets. #ETH走势分析