Ethereum is now in a downtrend channel. Although it's currently above an ascending trendline, the rebound is weak and the current movement resembles the previous drop from 3300 to 3000. Only by breaking out of this downtrend channel and not breaking below the trendline can we look higher at short positions at 2160-2220, 2297-2314, and 2357-2388. You can take positions in batches using a pyramid approach. For longs, pay attention to 1920 for a bounce trade, but be sure to set a stop loss. If it breaks below the last ascending trendline and fails to retest above it, you must stop out.

ETH3,49%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes