Crypto Circle Scholar: Why will Ethereum still head south on March 29? Precisely hitting the southward trend from 2380 to 2000! Latest market analysis and thought reference
Ethereum's current price is 2022. Watching Ethereum drop from 2200 to 2022, and oscillating repeatedly above 2000, isn't there someone who can't help but want to buy the dip? There has never been a myth in the crypto circle that buying the dip is guaranteed profit; only those who understand the trend and execute strictly can survive. Now the rebound is an opportunity for heading south; don't be misled by short-term fluctuations. How to operate next? It's simple: the rebound is the window for heading south.
The daily K-line shows that this wave is a trending downward movement, definitely not a short-term adjustment. After the price broke below the key support of 2100, all short-term moving averages turned down, forming pressure. The MACD death cross has not turned red, indicating that there is no resistance in the upward direction. The lower band of the Bollinger Bands is continuously opening, and the price oscillating between 2000 and 2050 is merely a continuation of the decline, not a stabilization. The upper resistance levels of 2100 and 2120 are insurmountable, while the first target below is between 1900 and 1950, with more southward space still opening up.
The four-hour fast line is under pressure below the MA20 and MA30 moving averages, forming a southward arrangement of short-term moving averages. After the MACD death cross, the green bars have shrunk, but the DIF is still below the DEA, indicating that the southward momentum still dominates. The Bollinger Bands are opening downward, and the price is oscillating between the middle and lower bands, with the rebound not reaching the middle band, making the southward trend clear. Therefore, everyone can focus on the short-term resistance levels between 2050 and 2100, while the key support to pay attention to below is between 1950 and 2000, as both sides are obstacles and also key turning points.
Short-term reference: (Practical data has been updated; consult the author for details)
Heading south from 2050 to 2100, stop loss at 2120, target looking at 2000 to 1950, and after breaking, look at 1740.
(Alternative) Heading north from 1950 to 2000, stop loss at 1930, target looking at 2050 to 2100.
Specific operations should be based on real-time market data; for more information, details can be consulted with the author. There may be delays in article publication; suggestions are for reference only and risks are borne by the reader.
