$ETH is now stuck at this critical position of 2438!
At this price level, buying power is obviously insufficient, and selling pressure is dominant.
Technical indicators show that KDJ has fallen into the oversold area; although it is still trending downwards, the downward momentum may soon be exhausted. The MACD bars are also shortening, indicating that the downtrend is nearing its end.
Looking at the chart, after three consecutive bearish candles, a long lower shadow has appeared, signaling a potential bottom.
Although the price is still fluctuating below the EMA24 and EMA52 moving averages, the KDJ has formed a golden cross, suggesting a possible rebound here.
The key focus is whether 2438 can break through; if it does, a reversal may occur; otherwise, it will continue to oscillate. Personally, I lean towards a rebound, but confirmation signals are needed.
If you are unsure and always chasing highs and cutting lows, feel free to chat, like + leave a comment, Brother Hu will take you on board.