Ethereum $2754 Life and Death Battle: Break Below = Continued Crash? Hold On = Violent Rebound?
This pullback in Ethereum is quite interesting. It just touched the resistance level of $2879 and got scared, directly falling back to around $2760, down nearly 2% in 24 hours. This trend clearly shows that the bears are gaining strength.
However, the technicals are a bit contradictory right now — the 15-minute RSI has dropped to 17, which is no ordinary pullback; it's oversold to the point of being extreme, so theoretically, a rebound should occur. But the daily MACD has just turned bearish, and trading volume has increased, indicating that there are indeed players selling during the decline, not just fake moves.
Key Point:
Currently, $2754 is the critical line; if it holds, it could rebound back to $2800-$2820, but don't celebrate too early, as there are a lot of trapped positions in this area, and there will definitely be sellers if it rises. If it directly breaks below $2754, the support below is at $2670, and this pullback may be deeper than expected.
To be honest, the four-hour chart looks stable, but the momentum is clearly weak, and the bulls are hesitating like a lady bargaining in a market. If the RSI can pull back above 30 and is accompanied by a low-level golden cross in the MACD, I might start to believe in a rebound. At this position, it is either a launching pad for a short-term rebound or a false move in a continuing decline, making it too risky.
Don't rush to catch the bottom; keep a close eye on the gains and losses around $2754. If there is to be a rebound, it has to wait until the bears have exhausted their strength or until some positive news stimulates the market. In this situation, it's better to miss out than to make a mistake, as every rebound in a bear market is a chance to escape, while every pullback in a bull market is a chance to jump in — but it's clear that this is not a bull market rhythm right now.
Next, I will continue to position myself with precise orders; rather than fumbling around and failing to capture the best entry and exit points leading to losses, it's better to follow me directly if you agree with my strategy.
