$ETH Thoughts:
The second coin has performed quite strongly this time! The first coin dropped from the highest point of 108700 to 107300, a drop of 1500 dollars, while the second coin only dropped 80 dollars.
Why hasn’t the second coin fallen significantly? Because the exchange rate of the second coin hasn’t dropped; it has maintained an upward trend, so the second coin hasn’t seen a significant decline. If the exchange rate of the second coin starts to fall, let’s see if it can hold up. Hopefully, the second coin remains strong and does not experience a compensatory drop.
This wave of decline in the first and second coins is likely a false break, aimed at washing out shaky hands or due to many individuals choosing to take profits at the resistance level, leading to the drop.
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Talking through the chart: As long as the second coin doesn’t drop below the support level marked in the chart, it will not continue to fall. The support level in the chart can have unlimited downward spikes, but the closing price must absolutely not close below 2429. If there is even one hourly candlestick that closes below 2429, the decline will begin, and it will be unstoppable. Everyone should pay attention to the 2429 position; as long as it doesn’t break, everything is under control. If it breaks, I can’t manage it anymore.
For the second coin, if it breaks out with volume above 2456, go long on the right side. If it breaks down with volume below 2444, go short on the right side. Pay attention to changes in volume and set stop losses.
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For the second coin, if it stabilizes above 2465 on the hourly level, look upward to 2502-2547. Stabilizing above 2465 will trigger an upward mode for the second coin on the hourly level.
On the 4-hour level, if it drops below 2424, look downward to 2376-2317. Dropping below 2424 indicates that the second coin is starting to weaken.
Continuing to look at the chart: On the 4-hour level for the second coin, observe the position indicated by the yellow arrow; it seems to be indicating a potential three-pin top.
This suggests that the second coin is encountering strong resistance at this position. If the second coin cannot break the highest price of these three pins in the upcoming time, the probability of a pullback is greater than the probability of an increase. Everyone, please pay attention to the risks, and let’s disperse the meeting.