2-24 Midnight Viewpoint

Currently, ETH rebounded to around 1910 but faced resistance and declined again. The market continues its weak downward trend, approaching the support near 1860. From the overall trend perspective, after high-level oscillation and a breakdown, prices have continued to decline, with rebound heights gradually decreasing, indicating a standard bearish continuation pattern. Although there are small short-term rebounds, the downward momentum remains unchanged, and the overall trend is still bearish.

BOLL:
Upper band around 2020, middle band around 1960, lower band around 1835.
The Bollinger Bands are diverging downward, with the price operating below the middle band and close to the lower band area. The lower band has not been effectively broken yet. If volume increases and breaks below 1835, the downside space will further open; if volume decreases and the price stabilizes above 1900, a consolidation and correction phase will begin.

MACD:
Operating below the zero line, with a dead cross between DIF and DEA unchanged. The green histogram expands again, indicating that bearish momentum is still being released. Although there is a slight decrease in volume in the short term, a clear golden cross signal has not yet formed. If a bullish divergence occurs at lower levels later, it will strengthen the rebound conditions.

Long position strategy (buy on dip)
Entry: 1780 – 1760
Target: 1860 – 1920
Stop loss: below 1740

Short position strategy (resistance on rebound)
Entry: 1920 – 1935
Target: 1860 – 1830
Stop loss: above 1960

The current trend remains a bearish dominant structure, and rebounds are part of a correction phase. Prioritize a defensive approach during rebounds, avoid chasing low-level shorts, and do not over-leverage for bottom fishing. Focus on the support at the lower band around 1835; once it is broken, the downside space will open again. Position control is the top priority—trade in accordance with the trend.
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