The overall trend of Ethereum on the previous trading day was oscillating downward. The market pierced around 1813 in the early morning and rebounded to 1832, but failed to break through the resistance at 1835, continuing the downward trend. Just now, the market fell below the support at 1800 and dropped to the neckline position at 1775 before the downward trend was halted and rebounded, now running near 1795.

Yesterday, Changlu mentioned in both the video and the article that the market rebounded weakly, and it was suggested to observe the support around 1800. In the video, it was particularly mentioned that if it fell below 1800, it would test the support around 1775, and indeed the market followed as expected. Although short positions were not entered, real-time strategies provided a warning of the impending decline.

Ethereum Market Analysis: Ethereum has consecutively fallen below the 60-day moving average on the weekly chart, testing the low point at 1775 and rebounding. The downward trend on the weekly chart is still evident. Today is Thursday, and if it cannot successfully rise above the 60-day moving average on the weekly chart this week, the downward trend will be further confirmed. Attention will then need to be paid to the support near the lower boundary of the weekly chart at around 1710. Yesterday, the market was bearish on the daily chart, and this morning it fell near 1775. Changlu has been reminding in the article and video about the market's failure to break through the resistance near 1878 during the rebound, and the formation of a five-wave decline. If it falls below 1800, it will test the support at 1775, as expected. Just now, after the rebound, the market slightly rebounded. Therefore, today it needs to be confirmed whether 1775 is the lowest point of this pullback and whether a wave extension will occur. We can first focus on the trend of the next 4 hours. If there is a significant rebound in the market, returning to run near 1800 or even 1815, the downward trend will be alleviated. If it falls below the support at 1775 again, it will truly enter a relentless downward trend.

On the 4-hour chart, the market rebounded after piercing below 1775, forming a trend of a rounded top, also breaking the support of the price channel line. After piercing below, the market will rebound somewhat, and attention should be paid to whether it can rebound and establish support above 1800. If a bottom can be established at this level, there will be an opportunity for a rebound. The main point to focus on now is whether the market can rise above the support of the 60-day moving average at the end of this week. After piercing on the 1-hour chart, there is a trend of upward rebound, with some support near 1775. Today, Changlu suggests focusing on short positions in operations, and attention should be paid to whether a bottom can be established. If so, long positions can be entered, and stop-loss should be used in operations.

Operational suggestions: Real-time strategies are provided.

Reminder: The strategy is for reference only. Operate with proper stop-loss and take-profit measures. Set profit-taking targets and use trailing stop-loss to protect profits while avoiding excessive profit retraction.

For more real-time strategies, follow Changlu's Weibo

The cryptocurrency trading market is always in full swing. Everyone's common wish is to seize the opportunity and get a share of the pie. Please believe, "The only thing missing between you and financial freedom is a long road." With Changlu's guidance, you will definitely achieve your cryptocurrency wealth dream faster and more steadily.

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