February 23 Midday Market Outlook

Currently, ETH has weakened after consolidating around the 1950 level, then resumed a sharp decline, breaking through the 1900 psychological level and reaching a low of around 1844. Overall, after a period of sideways movement at high levels, the breakdown confirms the continuation of a bearish trend. In the short term, the trend is accelerating. Although there has been a slight technical rebound, the price remains below the previous breakdown zone, and the bearish pattern has not changed. The current momentum is dominated by bears.

BOLL:
Upper band around 2015, middle band around 1950, lower band around 1885.
The Bollinger Bands are diverging downward. The price previously broke below the lower band and then rebounded, but it is still operating near the lower band, with the middle band forming clear resistance. If it cannot regain above 1950, the overall structure remains bearish; if it falls below 1840 again, the downside space will further open.

MACD:
Operating deep below the zero line, with DIF and DEA forming a death cross and diverging downward. The green bars have expanded significantly but are showing signs of slight contraction. This indicates that some bearish momentum has been released, but the trend has not reversed. If the green bars continue to shrink and form a low-level golden cross, technical correction may occur; if they expand again, the downtrend will continue.

Long Position Strategy (Buy on Dip)
Entry: 1825 – 1800
Target: 1880 – 1920
Stop Loss: Below 1780

Short Position Strategy (Resist Rebound)
Entry: 1920 – 1935
Target: 1860 – 1830
Stop Loss: Above 1950

Currently, ETH is in a bearish dominant structure, and rebounds are seen as corrections rather than reversals. The trading approach should prioritize defensive strategies during rebounds, avoiding blindly chasing shorts at low levels or over-leveraging for bottom fishing. Pay attention to the support at around 1840; if it is broken, the decline will continue. Strictly control position sizes, trade in line with the trend, and discipline is paramount.