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The Ethereum fall is truly merciless, directly smashing through the previous low of 2870, and barely stopping at 2788. The lower band of the daily chart has been breached.
The price is now struggling around 2840, with the RSI hitting the extreme oversold area of 26. The MACD green bars are still expanding. Although there is still downward pressure in the short term, a technical rebound could occur at any time after such a sharp fall.
Key position:
The new support is at 2788, if it breaks, then watch 2700.
The 3000-3050 range above has become a strong resistance zone.
Operation suggestions:
Short at 3000-3050 on the rebound, target below 2850.
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