In the crypto world, getting stuck in a trade is just turning short-term plays into long-term ones, and making trading a belief. Everyone who gets stuck goes through three stages: initially firmly believing 'a rebound is coming soon', then comforting themselves with 'value investing', and finally adopting a Zen attitude of 'leaving it for future generations'. The market will always teach us two things through unrealized losses—stopping losses is more important than making profits, and patience is more precious than all-in bets. Remember, a true diamond hand is not the stubbornness of holding on until the end, but the wisdom to cut losses when the trend breaks and to approach opportunities lightly when they restart. After Ethereum followed Bitcoin to break new highs, it quickly surged to the 3019 level but then faced significant selling pressure, forming a long upper shadow and retreating to a low of 2930. The price is currently rebounding to around 2976, showing an overall pattern of high-level volatility, but trading volume continues to shrink, indicating insufficient market willingness to chase higher prices, with short-term pullback risks present.
From the indicators, the 4-hour MACD red momentum bars continue to shrink, and the KDJ indicator has formed a death cross in the overbought region, showing that bullish momentum is weakening. The 3019-3000 area has formed a strong resistance zone; if the price cannot effectively break through this area, it may test the 2930 support level again. If 2930 is breached, the 2900-2880 range below will become the main target for bears.
Trading advice:
Short-term traders can consider gradually placing short positions in the 2976-3000 range, with a strict stop loss set above 3020, targeting the 2930-2900 range. Be cautious that a renewed strength in Bitcoin may lead to a second surge in ETH.
