2-24 Midday Market Views

Currently, ETH has retested the 1810 level and experienced a slight rebound, but overall it remains within a downward trend channel. After breaking through high-level consolidation, it continues to decline, with rebound heights gradually decreasing. Structurally, this is a weak consolidation within a continuing bearish trend. Although there is some minor short-term correction, the overall bearish momentum has not changed.

BOLL:
Upper band around 2038, middle band around 1924, lower band around 1810.
The Bollinger Bands are widening downward, with the price near the lower band, and the center of gravity continuously shifting lower. If the price effectively breaks below 1810 with increased volume and continues downward, the next support levels are at 1780 or even lower. If a volume-driven rebound occurs and the price reclaims above 1860, it indicates a short-term correction phase.

MACD:
Operating deep below the zero line, with DIF and DEA forming a death cross, and the green bars shrinking in size but still in the bearish zone. No clear bullish divergence signals have formed yet, and bearish momentum remains dominant. The rebound is more of a technical correction.

Long Position Strategy (Buy on Dip)
Entry: 1780 – 1760
Target: 1860 – 1920
Stop Loss: Below 1740

Short Position Strategy (Resist Rebound)
Entry: 1860 – 1885
Target: 1810 – 1780
Stop Loss: Above 1900

The current trend remains predominantly bearish, and rebounds are part of a correction rather than a trend reversal. Prioritize a defensive approach during rebounds, avoid chasing shorts at low levels, and do not blindly hold large positions for bottom fishing. Focus on the key support at 1810; once broken, downside space will open further. Strictly implement position management and trade in line with the trend. #Gate广场发帖领五万美金红包 $BTC