9.17 Ethereum (ETH) Market Analysis and Trading Recommendations

Ethereum's market continued to adjust yesterday, with the decline gradually easing as it approached the 4425 level, but unfortunately, it did not test the support strength at the 4400 level as expected. Currently, the price is rebounding around 4510, but the strength of the intraday rebound is still weakening. The Ethereum market is maintaining a downward oscillation, so the strategy should remain focused on short positions during rebounds, with resistance levels at 3900 and 4000.

On the short-term hourly chart, the Bollinger Bands are slightly opening downwards, and the short-term price is facing resistance, leading to a minor pullback. The middle band above is slowly moving downward. If the price cannot break through the resistance zone of 4560-4580, there is a possibility that the market will face pressure and decline again. I hope all coin friends will prepare in advance. A steady approach is to focus on shorting during rebounds, as the downward trend has not yet dissipated, and do not blindly chase long positions. Pay attention to the resistance at 4570 above and the support at 4430-4380 below. If the price breaks below 4430, the downward trend will further progress.

Ethereum short-term reference:
Short test 4600-4550 lightly, stop loss 30 points, target below 4500,
Long at the test warehouse point 4421-4471, stop loss 30 points, target above 4500,

The review of article publication has a time delay, and the market changes rapidly. The above suggestions are for reference only. We cannot control the market, but we can proactively prevent the risks we may encounter in our operations. Good risk control is essential to ensure our investments remain undefeated!