$ETH

Stand at attention when being beaten

Yesterday, Ethereum went long at the 2570 level. Stop loss. The logic for going long is illustrated in the picture, with the price continuously operating within an ascending channel, and it has not broken the small-scale ascending trend line. At the same time, I also wanted to catch a rebound at a high position, but this Ethereum is like an unmanageable burden. Yesterday, like Bitcoin, it stopped falling at 0.886 (2461). Then, it was blocked at the ascending trend line at 2542 and fell again (at the arrow position in the image). Therefore, personally, I do not recommend going long on Ethereum; if you must go long, you can only do so with a small position on the left side, as the risk of falling is high before it stands above 2550.

Other risk factors:

Market liquidity: A surge in sell orders at 3 AM from the exchange

On-chain data: A whale address transferred 120,000 ETH to the exchange

Derivative signals: Futures premium rate broke below -0.03%