The Bollinger Bands are narrowing, and the price of the currency is fluctuating between the upper and lower bands. Each rebound is suppressed by the upper band, showing signs of weakness. The current price is temporarily above the middle band; however, this is a 'continuation of the downtrend,' and the rebounds are merely a buildup of selling pressure. We await a break below the lower band to initiate a new downward trend.
It is recommended to short around 2860 and 2820, with an initial target of 2700, and if broken, look down to 2600.
ETHUSDT
Perp
2,959.27
+4.63%
