ETH Morning Analysis

Last night's market first showed strong upside momentum, encountering obvious resistance around 2200, followed by a minor pullback. Overnight, it retested to 2192 before rapidly falling, with the lowest point reaching 2117. Currently, price is oscillating near 2140, with bullish momentum clearly weakening.

From a technical structure perspective, although the four-hour chart shows volume breakout through the midline, the uptrend lacks sustainability. Instead, consecutive upper wicks have appeared, with obvious selling pressure from above. Meanwhile, the Bollinger Bands overall remain in a downtrend channel, with the trend showing no substantial change—mostly just a rebound correction.

Strategy remains trading with the trend: rebounds are opportunities, with focus on shorting at higher levels.

Reference: Scale in short positions around 2150—2180 range
Downside target: Continue watching 2080—2020 zone
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