February 24, 2024, Auntie Analysis

Cheng Jingsheng first wishes everyone a prosperous Year of the Horse, long-lasting accounts, smooth investments, and steady profits!

Yesterday, Auntie experienced a significant plunge, with a decline of over 5% throughout the day, breaking the key support level of $1900, with the lowest touching around $1810. Market panic sentiment clearly increased, and follow-up selling continued to emerge.

Disruptions from US tariff policies and ongoing outflows of safe-haven funds from the crypto market; Auntie spot ETF funds experienced net outflows, coupled with related reduction in holdings, further dampening market sentiment.

From the technical chart you provided, Auntie is currently weakly oscillating around 1818, with strong support at 1810 below. Once broken, it may test lower levels; resistance above is at 1900-1930. If there’s no volume on rebounds, don’t chase high. Short-term indicators are bearish, and weak rebounds are normal.

Short-term trading advice: Don’t blindly buy the dip, keep positions light and use low leverage. If the price rebounds to around 1860-1900, consider adding small positions, targeting around 1780-1740. Watch more and act less, control your hands, and prioritize risk management.

The short-term outlook is biased to sideways oscillation, with unstable news and no technical confirmation of strength. Avoid reckless trading. Wishing everyone a smooth and profitable trading during the New Year!

The above is only personal advice for reference, not investment guidance. Please follow Cheng Jingsheng’s strategic layout for specific actions!!$ETH ‌#eth