Mainstream currency market analysis

The huge waterfall of ether last night caught the market off guard, with a short-term plunge of more than 10%. This drop was entirely in preparation for exploding long orders, and let the upper side get off the chasing chips. The white market will continue to find support downwards. The one-hour rebound is weak, the rise is shrinking, and the MA10 moving average has not stabilized. It is expected that the rebound will fall back to 2230-2250, and the target is around 2100-2050.

The white market pie suggests that short orders can be placed after rebounding in the 43000-44000 range. It is completely impossible to regain yesterday's high at this position in the short term, unless extreme market conditions continue for a few days. This probability is very slim. In terms of moving averages, the moving averages of each period diverge downwards, the Bollinger Bands open downwards, and the trend will continue to reverse. It is recommended to place short orders near 43,000, and the target is 41,500-40,500.

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