Why is there a viewpoint of "shorting $ETH on rallies"?
I clearly waited for 2700, but got a bit aggressive and entered at 2656😭
You can see that the #Ethereum daily price has touched the levels of 2738, 2734, and yesterday it also reached 2712 three times, all encountering the pressure of the Ma200 daily long-term trend line, also known as the "bull-bear boundary," indicating that the price is facing strong resistance in this area in the short term. This shows that sell orders are concentrated and market sentiment is becoming cautious.
I believe the real explosion of altcoins started when it broke through the 200-day moving average and stabilized. Only then will there be a widespread rally, although in this wave, many strong coins in AI, MEME, and DeFi have surged significantly.
But we can review the $ETH daily level in 2023 after it broke through the ma60 line and ma99 moving averages, that wave of altcoin market.
I am currently paying more attention to the trend of ETH, the interest rate cut date is also uncertain, and Bitcoin has also reached a historical high, so it is necessary to pay attention to risks. For the decline, it is fine to operate within the day, focusing on taking profits when they are available. ETH, this time you drop a bit, fall to my expected 2000.✌️
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.
Why is there a viewpoint of "shorting $ETH on rallies"?
I clearly waited for 2700, but got a bit aggressive and entered at 2656😭
You can see that the #Ethereum daily price has touched the levels of 2738, 2734, and yesterday it also reached 2712 three times, all encountering the pressure of the Ma200 daily long-term trend line, also known as the "bull-bear boundary," indicating that the price is facing strong resistance in this area in the short term. This shows that sell orders are concentrated and market sentiment is becoming cautious.
I believe the real explosion of altcoins started when it broke through the 200-day moving average and stabilized. Only then will there be a widespread rally, although in this wave, many strong coins in AI, MEME, and DeFi have surged significantly.
But we can review the $ETH daily level in 2023 after it broke through the ma60 line and ma99 moving averages, that wave of altcoin market.
I am currently paying more attention to the trend of ETH, the interest rate cut date is also uncertain, and Bitcoin has also reached a historical high, so it is necessary to pay attention to risks. For the decline, it is fine to operate within the day, focusing on taking profits when they are available.
ETH, this time you drop a bit, fall to my expected 2000.✌️