Crypto Circle Academician: 3.10 Defend 2000! Can Ethereum Trigger a Reversal and Stand Firm Again?
Ethereum's current price is 2100, and it's now 1 AM Beijing time. As expected, the bearish trend continues. In yesterday's article, I suggested that everyone short 50 to 100 points, which is quite stable. The current daily K-line reached a high of 2210 and a low of 2064, dropping over 100 points. The current position is no longer suitable for chasing shorts. Although the bearish trend is obvious, it's not suitable for retail investors at this time. Shorting now carries the risk of further declines. Wait for a drop and then a rebound before considering buying. The battle to defend 2000 is about to begin, and we will wait and see.
The daily K-line has broken below the previous low of 2100, and the EMA trend indicator's downward space has further increased. The 2100 level is not suitable for buying. Crypto friends who want to try buying can consider testing positions at the 2000 mark. The MACD's decreasing volume has ended its downward spread, preventing a golden cross between DIF and DEA. The Bollinger Bands continue to expand downward, with the lower support falling to 1925. The pressure at the top has also decreased, with the middle band pressure level reaching 2400. It is expected that the market will break below this year's lowest point again and enter extreme oversold territory. At that time, buying can be considered.
The four-hour K-line has seen six consecutive declines, breaking below the EMA trend line and moving lower, getting closer to the 2000 mark. The MACD is decreasing in volume, and the DIF and DEA are forming a downward M pattern. The Bollinger Bands are contracting downward, with the K-line breaking below the lower support at 2085. Short-term levels are also entering oversold territory, showing changes in capital outflow, indicating signs of a reversal. Therefore, it can be considered to attempt a buy, setting a stop loss; if wrong, exit the position, if right, hold on.
Short-term reference: Safety first. Remember that there is no 100% certainty in the market, so always set a stop loss. The goal is to take small losses for big gains.
Testing buying points north are from 2025 to 1995, with a defense at 1950, a stop loss of 50 points, and a target of 2100 to 2150, with a breakout target of 2200.
Testing buying points south are from 2200 to 2250, with a defense at 2300, a stop loss of 50 points, and a target of 2150 to 2100, with a breakout target of 2050.
Don't forget, the darkest moment is often just before dawn. On the road to pursuing dreams, you are never alone. I am a warrior in the crypto circle, always protecting the retail investors. I wish my fans to achieve financial freedom by 2025. Let's work hard together! $ETH