Does the daily-level adjustment of Ethereum mean this round of rise is over? Will it fall below $2000 again?

Market trends come in two forms: either up or down. Therefore, a normal adjustment after a rise is healthy. When the market is adjusting, we should pay more attention to when the decline will stop and where the effective support is.

Only by judging the trend through the market can you capture your profit space; otherwise, you will be confused whether to chase when it rises or unsure when to enter when it falls.


Let's first look at the daily chart of Ethereum. The daily trend is currently downward. The rapid rise a few days ago has caused Ethereum to deviate from its path, reaching above the upper track, which can easily trigger a return.

At the same time, Ethereum has shown signs of weakening volume in the recent two bullish candles, indicating that the bulls are also taking a breather.


Currently, there is no signal to stop the decline, but the strong support at $2300 needs observation to see if a reversal signal will appear.


But the direction of the big trend is very clear. The bulls have counterattacked and taken the dominant position, and with enough chips, one shouldn't fantasize about a drop below $2000 again, providing an entry point at $1300. I believe after the adjustment, new highs will be reached.

The financial market is a game of strategy, where everyone is trying their best to become the one who profits.


However, the vast majority of people always focus on the price when watching the market daily. Paying attention only to price will confuse you, chasing the price and always feeling one step behind the market.


A slight drop makes one fear profit loss and being trapped, then selling, and after selling, seeing the 15-minute K-line rise again, fearing to miss the uptrend.

Back and forth, the chips in hand are getting fewer through repeated frequent operations.


I often use the example that trading is like watching a shadow play. When your focus is solely on the puppeteer, you'll never know what he will do next.


Only by getting to the back of the curtain can you see the puppeteer, understand his thoughts and intentions, and then wait for him at the end; this is your winning edge.


Trading is about the few making money from the majority.


So most people choose the wide path of not learning, chasing price news, and having a laid-back mentality, which is what we should avoid.


The narrow path chosen by the few involves continuous effort to improve oneself, enhancing cognition and skills, maintaining learning, and keeping the discipline of a trader, which is what we should do.