Last night's rally was essentially a sentiment-driven short-term bullish trend. The price surged from around 2100 to near 2199 before quickly pulling back. Buying momentum was clearly insufficient, with many long positions taking profits and exiting at high levels. The market has shifted from strong to weak.
From a technical perspective, 2199 has established a temporary top. The small-term upward channel has been broken, and the low point rising structure has failed. The BOLL bands are opening downward again, with the price facing resistance below the midline at 2135, returning to a weak zone. After multiple tests, the support from MA30/MA60 has weakened, RSI has turned downward, and bearish momentum is gradually increasing.
Trading Suggestions Short at 2150-2170, with a target of 2000-2050.
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3-5 Ethereum Analysis
Last night's rally was essentially a sentiment-driven short-term bullish trend. The price surged from around 2100 to near 2199 before quickly pulling back. Buying momentum was clearly insufficient, with many long positions taking profits and exiting at high levels. The market has shifted from strong to weak.
From a technical perspective, 2199 has established a temporary top. The small-term upward channel has been broken, and the low point rising structure has failed. The BOLL bands are opening downward again, with the price facing resistance below the midline at 2135, returning to a weak zone. After multiple tests, the support from MA30/MA60 has weakened, RSI has turned downward, and bearish momentum is gradually increasing.
Trading Suggestions
Short at 2150-2170, with a target of 2000-2050.