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Ethereum Technical Analysis for January 23rd Midday
Ethereum is currently stuck in a consolidation range between 2950 and 2980. It attempted to test around 2900 in the morning but halted its decline, though the rebound momentum is clearly weak.
From a technical perspective, in the 4-hour chart, the EMA 5/10/20 lines are in a bearish alignment, with the price being pushed below the EMA20 and unable to recover. The daily chart is even more bearish — both the 5-day and 10-day moving averages have been broken, indicating that the medium-term upward trend has weakened. The MACD has formed a death cross below the zero line; although the green bars have expanded slightly, the magnitude is small, and the bearish momentum remains. The KDJ indicator is oscillating at low levels, with no signs of a golden cross, overall showing weakness without oversold rebound signals.
Trading strategy: Consider short positions around 2980-3000 when the price rises, with targets below at 2920-2880.
Stuck again at 2900, the green volume bars seem meaningless
A bearish arrangement is a bearish arrangement, let's keep looking for downside
Enter short at 2980, but I feel like 2900 is the real key
This overall market trend has no real rebound opportunities, just stay flat
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Bearish alignment, I knew it was a no-go. Still, I should wait until 2880 to decide.
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The MACD death cross has appeared. It feels like there's still room below, better to be cautious.
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The 2980 short position is indeed tempting, but I still want to wait for oversold signals. Don't chase the high.
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Daily technical analysis, but the market just doesn't follow the rules. It's hilarious.
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This time, no golden cross on the KDJ is really a killer. Bitcoin hasn't moved, but it can't run away.
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Selling on rallies sounds simple, but execution depends on risk control.
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Weak rebound indicates the bulls are losing strength. I'm bearish to the end.
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Is 2900 support or a trap? It's hard to tell.
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The green volume bars are insufficient, and the bears still hold the chips.
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Even 2900 didn't hold, it looks like today is just heading down.
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Short positions feel stable for this wave, just see if it can drop to 2880.
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EMA20 is firmly pressing down, with no rebound signals, so continue to look for a short opportunity.
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The choppy range is so annoying, better to break out sooner.
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What does it mean when the green volume bars are not large? Is no one dumping?
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KDJ has not golden crossed for a long time, it's so frustrating, waiting for the monkey year and horse month.
The bearish arrangement of this combo has got me a bit confused; it seems like it will continue to dip.
If I short at 2980, I need to be a bit brave, considering this rebound is so weak.
Wait, is there really no oversold rebound opportunity? It feels like the bottom has to come at some point.
Can 2880 hold? If it really breaks, I'll go all-in on short positions.
ETH is just kneeling like this, can't even lift 2900?
I'm tired of the bearish arrangement theory, every time they say a death cross means a rebound is over
Short at 2980 on rallies? I think you'll just get stopped out on the way up
So weak, and people are still trying to buy the dip? Their courage is really impressive
Can the drop to 2880 be stopped? It feels like it will keep crashing further
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The bearish arrangement is so obvious, still expecting a rebound? Dream on.
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Couldn’t hold 2900 either, it seems like it will continue to decline.
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As soon as the death cross appeared, I knew it wasn’t good news.
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This technical pattern looks really uncomfortable, better wait and see.
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Shorting on rallies? Might as well wait for a break below 2880 directly.
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The 5-day and 10-day moving averages have both broken down, the medium term is indeed cooling off.
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KDJ is still oscillating at low levels, when will it rebound?
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The 2980 resistance is so strong, it drops as soon as it goes up.
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The green volume bars are insufficient, the bears still have strength.