What will ETH do next? Let me briefly explain
Recently, ETH has experienced a pullback from its high, and it has failed to hold the 3750 level for two consecutive days. The 4-hour chart is showing weakness now.
Here are a few key points to remember:
Support levels: 3600, 3550, which are close to previous lows and round numbers, may attract buying interest.
Stop-loss level: 3525, if it falls below this, don't hold on, to prevent further declines.
Trend: Both MACD and EMA are leaning bearish, and RSI is also declining, indicating that the short-term market is weak.
Strategy: Right now, don't be aggressive. If you're looking to buy the dip, wait until the price approaches support before trying small positions; if there's a rebound to the 3750 or 3800 resistance levels without volume, consider reducing positions or shorting.
How ETH moves this time depends on whether there's a significant breakout.
What to do next? I have prepared two response plans; if you want to know, feel free to ask me, don't rush in on your own.
