The bearish trend of Ethereum has been quite sluggish, but fortunately, it has reached the expected target point nearby.

Next, how to decide! The blogger will analyze it for everyone here.

Recently, Ethereum's daily candlestick chart has shown a long upper shadow, indicating heavy selling pressure above, with prices blocked around 1600. The hourly candlestick chart is oscillating in the range of 1550-1600, showing no clear trend direction.

Indicators show that both the MACD daily level DIF and DEA are negative, but the MACD histogram shows a slight increase, indicating a possible short-term rebound.

The RSI daily level is at 38.61, in a neutral to weak area, not entering the oversold zone, indicating that there is still downward pressure in the market.

The EMA daily level shows the 7-day moving average (1598.16) crossing below the 30-day moving average (1780.62), indicating a bearish short-term trend.

The trading volume shows a recent contraction at the daily level, indicating reduced market participation and a lack of clear direction.

The hourly trading volume has increased during price fluctuations, but overall remains at a low level, indicating strong market wait-and-see sentiment.

Strategy reference points:

Long position point one: 1550 (integer support level, combined with recent low point 1551.18, there is a possibility of buying)

Long position point two: 1530 (near previous low 1546.06, strong support level after further pullback)

Long stop-loss point: 1520 (10 USDT below long position point two, to prevent further breakdown)

Short position point one: 1600 (integer resistance level, near recent high point 1604.4, there is selling pressure)

Short position point two: 1620 (near previous high 1623.78, strong resistance level after further rebound)

Short stop-loss point: 1630 (10 USDT above short position point two, to prevent further breakout)

The above strategies are for reference only! They do not constitute investment advice.