Technical Analysis ETH Strategy

- Main conclusion: Daily trend tends to be bearish, short-term volatility is weak and choppy; rebound priority for shorting above resistance levels, after support stabilizes, consider small long positions, strictly control position sizes.
- Current price: $2,985 ( 24-hour volatility $2,920-$3,205, down -6.72%).

Key levels and indicators

- Daily: Price breaks through EMA20 ($3,140) and the 100-day moving average, RSI 40.12 neutral leaning weak, MACD death cross continues to widen, bearish momentum dominates.
- 12 hours: Re-testing Fibonacci retracement level 0.618 from the previous rise at $2,925, supported by weekly moving average, indicating a need for short-term correction.
- 4 hours: Forming bullish reversal candles, KDJ golden cross indicator at low levels, signs of rebound at small levels, but resistance above is quite strong.

Support and Resistance (Key levels)

- Support: $2,925 (strong, 0.618 retracement + moving average resonance), $2,810 (strong, previous dense trading area).
- Resistance: $3,140 (strong, EMA20 pressure), $3,200 (strong, resistance at previous high levels).

Trading strategies (can be implemented)

- Short strategy: gradually rebound to the $3,120-$3,140 area to open short positions, stop loss at $3,195, first target $2,980-$2,925, if the level breaks, hold position at $2,810.
- Long strategy: stabilize around $2,925-$2,940 (daily bullish and volume breaks $2,950), small position to try long, stop loss at $2,890, target $3,050-$3,080, exit immediately if resistance is encountered.
- Position and risk management: total position not more than 30%, each trade with a maximum stop loss of 2%, strictly avoid chasing buy or sell.

Market evolution scheme

- Optimistic: volume increases and stabilizes above $3,140, returns to $3,150-$3,200 for choppy trading, potential test of $3,300 level.
- Neutral: choppy and weak between $2,925-$3,140, waiting for market direction, bullish and bearish battles intensify.
- Pessimistic: breaks $2,925 with high volume, declines to support at $2,810, then targets the range $2,620-$2,700.