ETH Early Morning Analysis

Last night's market showed strong upward momentum initially, with obvious resistance around 2200 level, followed by a slight pullback. Overnight, it probed to 2192 again before rapidly declining, with the lowest point reaching 2117. Currently, the price is oscillating around 2140, with obvious weakening of bullish momentum.

From a technical structure perspective, the four-hour chart shows volume breaking through the middle band, but the uptrend lacks sustainability. Instead, consecutive upper shadows appeared, with obvious selling pressure from above. Meanwhile, the Bollinger Bands overall maintain a downward channel trend, with no substantial change in the trend—mostly just rebound recovery action.

Strategy remains to follow the trend with counter-trend trades. Rebounds present opportunities; continue shorting at higher levels.

Reference: Set up short positions in batches around 2150—2180 levels
Lower targets continue to focus on the 2080—2020 zone
$ETH ‌#Gate13周年全球庆典