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In the short term, based on the 1-hour order book, Ethereum continues to move downward, then hits a bottom and shows a small rebound; overall, the channel is still trending down.
In the short term, the resistance zone above is 1760, and the support below is 1720.
The bearish power of the indicators is gradually weakening. There may be a slight rebound in the short run, but don’t chase the rally.
As it rebounds near 1760, take a light position, and then plan for the subsequent pullback.
If it retests 1721 without breaking, take a small position to catch the rebound. For all actions, be sure to set stop-losses. In the short term, it’s unlikely to see a big upward move. #ETH