$ETH Price Location January 23, the price of ETH fluctuated in the range of 2900-3000 USD, having breached the psychological barrier of 3000 USD, with a weak short-term trend. The daily MACD has formed a death cross pointing downwards, and the RSI is approaching the oversold area (around 37), indicating that bearish momentum has not yet been fully released.
Key price level assessment:
Support levels: 2900 USD (tested multiple times intraday), 2850 USD (100-day moving average), 2780-2800 USD (200-day moving average and strong support area)
Resistance levels: 3000 USD (round number), 3050 USD (20-day moving average), 3100-3150 USD (previously dense trading area)
From a technical perspective, the price is in a descending channel; if the 2900 USD support is breached, it may test the 2850-2800 area; if it holds above 2900 and breaks through 3000 with volume, a short-term rebound to the 3050-3100 range is expected.
Strictly set stop-loss (suggested stop-loss for short-term trading is 50-80 points, for medium-term layout is 100-150 points) Control position size (single trade should not exceed 10-20% of total funds)