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March 19th Market Analysis
The Federal Reserve held rates steady. Yesterday's market moved as expected—after the US stock market opened, it crashed rapidly. I've been saying that for the market to confirm a significant rally, two conditions must be met: first, a rapid selloff to liquidate overleveraged long positions; second, the removal of geopolitical war factors from the news. Yesterday evening's decline was partly due to the war escalating again. Similarly, the market is experiencing the darkness before dawn…
From a technical perspective, the market has not broken through the key support level of 2140, so the uptrend remains intact. As long as there's slight support from the news, I still see the key resistance level at 2550 above…
Today's Trading Recommendations: Bias toward going long at lower levels
ETH First support level: 2168 | Second support level: 2140
First resistance level: 2270 | Second resistance level: 2330
Disclaimer: This personal analysis is for reference only and does not constitute trading advice. Trading carries risk. Always use stop losses when entering positions.