August 29th Airborne: Ethereum short-term oscillation adjustment, looking bearish below 2700

ETH/Daily Chart

On the daily level of Ethereum, the price hit bottom and rebounded on Tuesday, indicating a need for a correction. The candlestick closed positively yesterday, but in the medium term, the resistance above 2800 in the previous week led to a continuous weak unilateral decline, entering a second round of bottom exploration. Once the downtrend is opened, it is difficult to extinguish it all at once. Therefore, the subsequent operation on the weekly chart should mainly be weak consolidation above 2100. Even if it breaks through, there won't be much room for a significant downturn.

ETH/4H Chart

On the 4-hour level of Ethereum, as shown in the chart above, after continuous weak performance, it has seen the first warming trend. The short-term major trend remains bearish, and it seems to have entered a weak correction phase in the past two days. The trend adjustment in the currency circle is quite exaggerated, so in the short term, it is likely to undergo interval adjustment near the short-term moving average. The resistance is at 2700, and the support is at 2400. A bearish outlook is also expected near 2700.

Strategy 1: It is recommended to go short with a light position at 2670-2640, stop loss at 2710, and target around 2500-2400.

The above is a personal suggestion for reference only. Investment involves risks, and trading should be cautious.

There may be a delay in publishing, and the market is ever-changing. The mentioned points in the article do not serve as a basis for following orders. For more information on the market and order execution, refer to the real-time strategy of Airborne.

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This article is original content by Band Airborne, with over ten years of investment experience, having handled funds at the level of tens of millions, familiar with the operation of main funds, washing and absorbing chips, and lifting techniques. It can achieve the integration of knowledge and action in fund management, position control, investment portfolio, and investment mentality. Proficient in judging and analyzing the overall market trend, mastering various candlestick technical tactics, and having deep insights into wave theory, form theory, and index theory. Scan and follow the public account above for technical market learning and communication.

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