April 20 | Sunny | 12:39 | Ethereum Watch 📉

Based on both market and technical analysis, the current second wave of bullish momentum is already falling behind the pace. Each rebound is weaker than the last, with the highs continuously declining. The downward channel is gradually taking shape, and in the short term, there’s basically no chance of a strong reversal or breakout.

Overall, the market is operating weakly, slowly oscillating downward. Several resistance levels above are pressing down on the price, preventing it from rising, while support levels below are repeatedly touched back and forth. The bulls lack the strength to mount a counterattack, and the bears are steadily controlling the market’s main rhythm.

Trading suggestion: The idea is simple—preferably go short on rallies throughout the process. Take profits in batches timely to lock in gains. Also, stay alert and watch out for sudden external news disruptions, as key external developments can easily disturb the normal market rhythm and cause choppy, whipsaw trading. Keep positions light and strictly set stop-losses!

$ETH
For aggressive traders: go short at the current price of 2323 directly.
For conservative traders: consider around 2330-2360.
Target: around 2270-2230.
Stop: break below 2200, long-term support at 2060 and 2000.

‼️‼️Risk reminder: The above content is for reference only and does not constitute any investment advice. Please carefully assess your own risk tolerance and beware of risk traps! $ETH