After the second contract (ETH) made a second attempt to reach 2148.00, it quickly retreated, with the K-line forming a distinctive long upper shadow, clearly indicating that bulls encountered strong selling pressure at higher levels, with upward momentum suddenly exhausted, and short-term bullish momentum experiencing a significant retreat.
Current price has rebounded to the Bollinger Band upper rail resonance resistance zone, with multiple technical levels forming combined pressure; meanwhile, short-term moving averages have turned downward, constructing reverse resistance bands. Combined with weak follow-through in trading volume, the rebound lacks sustained fund support, making it significantly more difficult for short-term prices to continue rising.
On the indicator level, KDJ has turned downward from highs, exiting the overbought zone and releasing clear bearish signals. The second contract is officially entering a technical correction phase, with increased probability of short-term oscillating downward movement.
Operating Suggestions
On rebounds to around 2120—2140, target levels toward around 2030—2060
3-13 Morning Analysis: Long Upper Shadow Shows Strong Resistance, Short-term Enters Technical Correction
After the second contract (ETH) made a second attempt to reach 2148.00, it quickly retreated, with the K-line forming a distinctive long upper shadow, clearly indicating that bulls encountered strong selling pressure at higher levels, with upward momentum suddenly exhausted, and short-term bullish momentum experiencing a significant retreat.
Current price has rebounded to the Bollinger Band upper rail resonance resistance zone, with multiple technical levels forming combined pressure; meanwhile, short-term moving averages have turned downward, constructing reverse resistance bands. Combined with weak follow-through in trading volume, the rebound lacks sustained fund support, making it significantly more difficult for short-term prices to continue rising.
On the indicator level, KDJ has turned downward from highs, exiting the overbought zone and releasing clear bearish signals. The second contract is officially entering a technical correction phase, with increased probability of short-term oscillating downward movement.
Operating Suggestions
On rebounds to around 2120—2140, target levels toward around 2030—2060