#Trump’s Tax Reform#

#Grayscale ETF Approval#
Today, the price of Ethereum (ETH) is hovering around $2400, and the market shows a trend of oscillating downward. The 4-hour chart indicates that ETH is facing the test of a multi-day defensive low range, with the market leaning towards short positions in the short term.
In terms of technical indicators, the MACD death cross has formed, and the negative value of the histogram has expanded, indicating that short positions are gaining momentum. The KDJ indicator has entered the oversold zone, with the J value breaking below the zero axis, reflecting a sluggish market sentiment. The "9" and "13" signals that appeared in the TD sequence also indicate the presence of downward pressure. In the moving average system, the EMA of each period shows a suppressive trend, especially the range from MA90 to MA60, which creates significant resistance to the price.
In the current market situation, investors need to closely monitor the key support level at $2370. If this level is effectively broken, the next target may drop to around $2300. In this case, going short may be a wiser choice rather than risking going long at high levels.
It is worth noting that the market may experience a brief oversold rebound or consolidation. Therefore, short positions can be considered in the area above $2430, with a stop-loss set above $2470 and a target take-profit level of $2380. If the price breaks below the key support at $2370, the target can be further adjusted down to below $2300.
For long opportunities, it is recommended to pay attention to the volume situation after the death cross on the daily chart. The current position does not suggest making a rash long position, but the $2240-$2205 range between MA150 and MA90 can be regarded as a potential short-term support area, which may provide an opportunity for low-position long entry.
Overall, the current Ethereum market is still in a downward trend, and investors should remain cautious and manage risks effectively. Whether going long or short positions, reasonable stop-loss settings should be established to avoid heavy positions and ensure the safety of funds.