From the candlestick chart, Ethereum (ETH/USDT) is in a highly weak bearish trend, and has just tested the support at the lower Bollinger Band.

Trading Suggestions

Short-term Strategy:

Long Position Idea: Given that the price has touched the lower Bollinger Band and shows signs of stabilization, you can try a small long position around 2,065 (anticipating a rebound), with a stop loss below 2,055. The target is around 2,085-2,090.

Wait-and-See Approach: If you are an aggressive trader, it’s not recommended to chase a short now since it’s at a support level; nor is it advisable to blindly add to a position at the bottom because the overall trend is still downward. The best strategy is to wait for a rebound to test the resistance at 2,085-2,090. If it encounters resistance, then consider entering a short position.

Risk Warning: Currently, market sentiment is very pessimistic. Although there is a rebound demand from oversold conditions, a break below 2,060 could trigger further panic selling. In that case, stop-loss and exit immediately.

Summary: A short-term oversold rebound is imminent, but the main trend remains bearish. It’s recommended to focus on “rebound shorting” or “light positions to catch rebounds,” and avoid full-position bets on a single direction. $ETH $BTC $ETH