February 23 Midnight Viewpoint

Currently, ETH surged to around 1996 but faced obvious resistance and pulled back. With short-term volume increasing, it broke below the midline of the Bollinger Bands, and the price quickly retreated to around 1948. Overall, the rebound momentum has not continued, and the resistance above 2000 remains significant. This recent surge is more of a range-bound rebound correction. The current price has returned to the lower-middle region of the Bollinger Bands, indicating a short-term weak trend, shifting from a slightly strong oscillation to a slightly weak oscillation structure.

BOLL:
Upper band around 1990, middle band around 1970, lower band around 1930.
The Bollinger Bands are still relatively flat overall, but the price has broken below the middle band and is approaching the lower band, which is now acting as resistance. If the price cannot quickly recover above the middle band, it is likely to test the lower band support; if it breaks below the lower band and the gap widens downward, the structure will turn bearish.

MACD:
Operating below the zero line, with DIF and DEA forming a death cross and expanding, green bars continue to grow, indicating increasing bearish momentum. This suggests short-term correction strength is intensifying. If the green bars continue to expand, there is room for further retests; if the green bars shrink and a golden cross forms again, there may be a chance for stabilization and recovery.

Long Position Strategy (Buy on Dip)
Entry: 1915 – 1895
Target: 1980 – 2000
Stop Loss: Below 1880

Short Position Strategy (Resist Rebound)
Entry: 2025 – 2045
Target: 1970 – 1940
Stop Loss: Above 2060

Currently, ETH again confirms that the strong resistance at 2000 is effective, and the short-term structure remains weak. Trading should prioritize a rebound defense strategy, avoiding blind bottom fishing. Watch the support around 1920; if support holds, consider short-term participation in correction. Long positions should be taken with light positions and stop-losses. Strictly control position sizes and follow the trend.