Bearish signals dominate:
Both the MACD's DIF and DEA are in negative territory and have formed a death cross (DIF is below DEA), indicating a dominant downward momentum.
The price is below the middle band of the Bollinger Band (1,899.01), close to the lower band (1,746.87), reflecting short-term weakness.
Potential risk points:
If the price stabilizes and rebounds near the support level of 1,757.52, it may trigger a corrective bounce, but confirmation with a MACD golden cross or increased volume is needed.
Entry point suggestion
Shorting opportunity (higher probability):
Aggressive strategy: If the price rebounds to short-term resistance near 1,834.70 and faces pressure (near the middle band of the Bollinger Band), a small position can be attempted to short, with a stop loss set above 1,840.
Conservative strategy: If the price effectively breaks below support at 1,757.52, follow the trend to short, targeting the lower Bollinger Band near 1,746.
Longing opportunity (exercise caution):
Only attempt a small position if the price stabilizes above the support at 1,757.52 and a MACD bottom divergence/DIF crosses above DEA occurs, targeting resistance at 1,834.70, with a stop loss below support.
Key monitoring position
Upper resistance: 1,834.70 (short-term strength and weakness boundary), 1,899.01 (middle Bollinger Band).
Lower support: 1,757.52 (recent low), 1,746.87 (lower Bollinger Band).
Summary: The current technical outlook is bearish, suggesting to primarily short on rebounds; if a breakdown occurs, follow the trend. Long positions should wait for a clear reversal signal.$ETH
