Ethereum short positions have once again hit the profit target and been closed. There will be many opportunities before the end of the year, so seize them!

In the evening, short positions were placed in the Ethereum range of 2760-2780. The price reached the target and made a profit of nearly 120 points. All positions were closed with perfect profit-taking! The 4-hour EMA20, EMA50, and EMA200 moving averages are in a bearish alignment. The price continues to run below the moving averages, which exert significant pressure on the price, reflecting that the medium-term bearish trend remains unchanged. MACD indicator: The MACD line is below the signal line, and the histogram is negative and shows an expanding trend, indicating that the bearish momentum is still increasing and there is no obvious sign of a bottom. RSI indicator: The RSI (14) is in the weak range of 30-50. Although it has not entered the oversold zone, the value is low, indicating that the market buying power is weak and the rebound momentum is insufficient. Bollinger Bands: The price is running below the middle Bollinger Band. The Bollinger Bands are opening downwards. The lower band provides some support for the price, but the middle and upper bands continue to decline, and the overall trend is bearish. Support levels: The first support is at $2675, a key level for market sentiment. A break below this level with significant volume could lead to further declines to $2630 and $2600. The second support is at $2600, a previous area of high trading volume with some buying support. Resistance levels: The first resistance is at $2780, a previous support level that has been broken, making it likely to encounter resistance on rebounds. The second resistance is at $2900, a significant short-term resistance zone with a large number of trapped investors; a breakout requires confirmation with significant volume. Trading recommendations: Short-term traders: Remain on the sidelines and wait for a clear bottoming out and stabilization before considering a small long position, with a stop-loss below $2675. If the price rebounds to the $2780-$2900 resistance zone and encounters resistance, a small short position can be initiated, with a stop-loss above the resistance level. This strategy is time-sensitive; implementation will primarily rely on free guidance.