$ETH Evening Thoughts:
Isn't it true that all students hope for the rise of the second token, which will in turn drive up the altcoins? I tell you, given the current market conditions, it is impossible for the second token to walk an independent trend; if the first token doesn't rise, the second token walking an independent trend will be the beginning of a nightmare.
Unless the first token reaches its previous highs or sets a new high and consolidates at those positions, the second token can only walk an independent trend then. If the first token does not cooperate, the second token will be in trouble.
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Speaking through the chart: The second token on the hourly level is looking to form a rounded bottom. The candlestick pointed to by the yellow arrow is not looking good, resembling a high-position doji.
Moreover, the highest price of this doji is also a resistance level for the second token; if it can't rise immediately, it will have to retrace.
For the second token, break through 2641 with volume to go long on the right side; if it breaks down 2631 with volume, look for short positions on the right side. Pay attention to changes in volume and set proper stop losses.
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On the hourly level, if the second token stabilizes above 2652, look for the target positions above at 2687-2719; 2652 is the watershed for long and short positions of the second token.
On the four-hour level, if it breaks down below 2601, look down towards 2568-2513.
Continuing to look at the chart: The second token has now surpassed the 61.8 position of Fibonacci; if it can stabilize at the 61.8 position, it will continue to push upwards towards the Fibonacci 1 to 1 position of 2733.
If it wobbles and can't stabilize at 61.8, it will need to retrace a bit before moving up. Tonight's short-term volatility won't be small, after all, the US stock market hasn't opened for 3 days; shouldn't it release some pressure? Meeting adjourned.