Ethereum as expected dropped to around 2889 to take profits, followed by a rebound. However, this rebound lacked strength and remained stuck below the key resistance at 2990. To be honest, the bearish pattern remains quite stable with no signs of being broken.
**Today's Market Outlook**
The market is expected to enter a consolidation phase with sideways movement, rather than a continuous trend. The trading strategy is clear—continue to mainly short, and look for suitable high points to short in.
**Specific Trading Plan**
**Entry Zone**: Between 2972 and 2990, this band is a repeatedly confirmed resistance level.
**How to Judge the Entry Timing**: When the price surges, observe whether there is a sign of weakening momentum or a direct rejection at resistance. These are good entry points for short positions.
**Risk Management**: Place stop-loss above 2990. If the price truly stabilizes above 2990, our analysis framework needs to be reassessed, and at that point, we should cut losses and exit.
**Exit Strategy in Two Steps**: - Focus on whether the price can effectively break through the support zone at 2886 to 2866 below - Once the support is broken with increased volume, the next target is around 2791, where you can consider exiting - It is recommended not to take all profits at once; scaling out can lock in more profits, or if the support is broken, raise the stop-loss to balance risk and reward
⚠️ Disclaimer: The above is only a technical analysis approach and does not constitute investment advice. Trading involves risks; please make independent decisions based on your risk tolerance.
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.
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SignatureCollector
· 11h ago
Another resistance level trap, can it be broken this time?
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ForumMiningMaster
· 11h ago
Level 2990 is back again, and the bears are still holding strong.
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SeasonedInvestor
· 11h ago
Why can't I beat this level 2990? Are the bears really this stable?
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NFTFreezer
· 12h ago
2990 is about to be tested again; this resistance level is just too strong.
View OriginalReply0
BearMarketSunriser
· 12h ago
2990 is really hard to break, this rebound is just a tug-of-war
View OriginalReply0
ForkInTheRoad
· 12h ago
Is this the same old trick of shorting again and again at 2990 until it breaks? Can it break through, buddy?
**Yesterday's Market Review**
Ethereum as expected dropped to around 2889 to take profits, followed by a rebound. However, this rebound lacked strength and remained stuck below the key resistance at 2990. To be honest, the bearish pattern remains quite stable with no signs of being broken.
**Today's Market Outlook**
The market is expected to enter a consolidation phase with sideways movement, rather than a continuous trend. The trading strategy is clear—continue to mainly short, and look for suitable high points to short in.
**Specific Trading Plan**
**Entry Zone**: Between 2972 and 2990, this band is a repeatedly confirmed resistance level.
**How to Judge the Entry Timing**: When the price surges, observe whether there is a sign of weakening momentum or a direct rejection at resistance. These are good entry points for short positions.
**Risk Management**: Place stop-loss above 2990. If the price truly stabilizes above 2990, our analysis framework needs to be reassessed, and at that point, we should cut losses and exit.
**Exit Strategy in Two Steps**:
- Focus on whether the price can effectively break through the support zone at 2886 to 2866 below
- Once the support is broken with increased volume, the next target is around 2791, where you can consider exiting
- It is recommended not to take all profits at once; scaling out can lock in more profits, or if the support is broken, raise the stop-loss to balance risk and reward
⚠️ Disclaimer: The above is only a technical analysis approach and does not constitute investment advice. Trading involves risks; please make independent decisions based on your risk tolerance.