3.19 Morning Analysis

From the 1-hour chart, the price has broken below the lower band of the Bollinger Bands and multiple moving average support after volume spike from the high. The bearish trend has been clearly established. Current rebounds are consistently capped below the moving averages with weak momentum, and although KDJ has shown a slight rebound, it still remains at the lower level without forming an effective reversal signal. Price has refreshed the stage low to 70456, and the rebound has failed to break through the midpoint of the previous large bearish candle. Selling pressure remains below, and in the short term there is a high probability of continued downward exploration. Operationally, it is suggested to short at the moving average resistance level, with the first target at the previous low of 70456, and after breaking that level, further target at the 70000 round number support.

Trading Suggestion: Short at 72000-72500, target 70000, looks quite attractive at 68000#Gate13周年全球庆典 $ETH