Technical analysis by sxaix1 about Symbol ETH: Sell recommendation (5/8/2024)

Judging from the daily chart, the price of Ethereum has fallen below the 50-day moving average, and the 10-day moving average and the 20-day moving average have formed a cross, indicating that short selling will continue in the short term. After the price fell below the important resistance level of 3070-3075 yesterday, the price continued to decline and a trend has been formed. There is a high probability that the price will continue to fluctuate and fall next. Trading strategy: If the price rebounds to 3005-3037, you can sell, target 2940-2950, stop loss 3040 The above strategies are for reference only. I will update the strategies at any time in my guidance group.