Ethereum Latest Market Analysis

As of the time of writing, Ethereum is priced at 3390. Liying observes a clear downward trend in the current market, with technical indicators showing increased selling pressure. The support level at 3407 is under test. The death cross indicates that both short-term and long-term moving averages are trending downwards, with the price approaching the strong support level of 3407. This position may temporarily alleviate the downward pressure, leading to a local rebound or consolidation in the market. The daily chart shows two consecutive large bearish candles, rapidly dropping from 3900 to 3420, indicating a clear bearish trend. The selling pressure is heavy on the 2-hour chart, and the rebound lacks strength, with MACD showing a dominant bearish force on the 2-hour timeframe. The EMA on the 2-hour chart presents a bearish arrangement. Liying believes the downward trend has been confirmed, and there is no doubt about shorting; focus on risk control and continue to look downwards.

Short-term Point of Reference:

Short Entry at 3500, Stop Loss at 3550, Stop Loss 50 points, Target 3350

Long Entry at 3300, Stop Loss at 3250, Stop Loss 50 points, Target 3450

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The content of the article is time-sensitive and for reference only; risks are borne by the reader.

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