ETH Short Attack! Key Defense Line Shakily on the Brink!
After ETH hit $2879, blood flowed profusely as the continuous pullback momentum became fierce. On the hourly chart, the price has smashed through the BOLL middle band, and the MACD has flipped from green to red and continues to trend downward, with the bearish momentum clearly taking the upper hand.
Key points on the 1-hour chart:
The BOLL channel is starting to narrow, with the price not only breaking through the middle band but also approaching the lower band.
After the MACD death cross, the green bars are continuously elongating, making the bearish-dominated weak pattern very clear.
Bearish Opportunities:
If the price can’t hold above $2700, the bears will completely unleash themselves, and the short-term target can boldly be set towards $2650.
Bullish Opportunities:
Want to bet on a rebound? Keep a close eye on the $2738-$2700 region. If the price can clearly stop falling and stabilize here, you can attempt to go long, with the first target looking towards $2800-$2850.
For cautious bulls, it’s best to wait until the price truly stabilizes above $2800 before taking action, as that would be safer.
In the current situation, the bears are calling the shots, and the market is clearly biased toward weakness. I believe that $2738-$2700 is the critical line of fate! If this area collapses, the bears will completely control the market, opening up room for further declines. Conversely, if it can hold here, the bulls will have a chance to regroup and challenge the $2800 level again. Keep a close eye on the outcome in this area!
The market continues to change, and we are closely monitoring it to seize new entry opportunities. Like + leave a message, let’s navigate through the bull market together and seize this major opportunity.
