3.28 Weekend Evening Market Overview: ETH Successfully Averaged Down Long Positions
ETH placed long positions at 2025 the day before yesterday to avoid being stopped out, while also making an accurate prediction that the market would further pull back. It decisively averaged down at 1976, with a lowest spike entry at 1966, successfully lowering the average long price and breaking even.
ETH temporarily found a bottom at 1980 with a chance for a rebound. With liquidity scarce over the weekend, the market will not create much ripple.
After ETH breaks and stabilizes at 2025, it returns to the familiar oscillation range; the breakout also presents a buying opportunity.
If you have no positions, you can consider averaging down at 1980 for a long position, with a stop at 1911 and targets around 2049 and 2110; you can also wait for a breakout and stabilization at 2025 to enter long positions.
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