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3.9 Monday Morning Mistress Market Analysis
Early this morning, Ethereum moved in tandem with the market and weakened, breaking below the key support level of $1950 and dropping to $1920. It then rebounded weakly to around $1936 and oscillated.
Bearish momentum is sufficient, and the rebound lacks volume, indicating a correction after a sharp decline. The $1950 level has now become a strong resistance, with moving averages and MACD both showing bearish signals; the correction is not over.
Trading idea: Follow the trend and go short at high levels
ETC: Short at 1970, target 1910, break below look at 1900.