March 18 Market Analysis from Lao Biao

ETH has been on an uptrend since last week, with K-line showing 8 consecutive bullish candles. The price has rallied from 1950 to a high near 2380. After a brief pullback over the weekend, this week's rally has been quite strong. The market has been consolidating since yesterday, entering a critical time for directional confirmation…There will be data releases from news tonight that will directly impact the subsequent market movement…In the overall big picture framework, watch the 2140 level below. If this level holds, the uptrend won't be broken. Watch the strong resistance at 2550 above…

Based on current technical data, after ETH broke through the key resistance at 2200, it rallied nearly 200 points. After yesterday's consolidation, the short-term has been testing the 2300 support level. When it breaks up and encounters resistance, it will pull back to accumulate…However, in the overall big trend, Lao Biao still views taking longs on dips as the main strategy. On pullbacks, still looking for opportunities to go long…

Today's Trading Suggestion: Long on dips as the main strategy

ETH First Support: 2300 | Second Support: 2260
First Resistance: 2380 | Second Resistance: 2440

Disclaimer: Personal suggestions are for reference only and do not constitute trading basis. Trading carries risk. Use stop-loss when entering positions.