This morning's ETH movement was quite explosive – it plummeted directly from 3040 to 2805, losing over two hundred points in an instant. If you happened to take a long order just above 3000, it must be quite uncomfortable right now, right?

First, let's look at the technical situation: The 1-hour MACD has already crossed dead, the white line is below the 0 axis, and the green bars have turned into red bars while still increasing in volume, which clearly indicates that the bears are dominating the rhythm. The resistance level has now moved down to 2970, and the key support to watch is at 2875, but if the trend continues to deteriorate, it might not hold around 2700 either.

What to do if you're stuck? Just holding on is definitely not the solution; taking proactive measures is the only way out:

If it rebounds to around 2900 - consider reducing long orders, at least to relieve the position pressure;

In the range of 2850——you can place a light short order for hedging, so that at least it won't be so passive when it drops;

Once it plummets below 2800——long order must decisively stop loss, don't let yourself get deeply trapped.

The market doesn't wait for anyone. The key now is to manage risks and not let the account blow up first. What's the situation with your long order over there? Are you still waiting or have you started operating?