ETH Morning Analysis

Last night's market initially surged strongly, facing obvious resistance around 2200, followed by a small pullback. Overnight, it probed again to 2192 before falling sharply, with the lowest reaching 2117. Currently, the price is oscillating around 2140, with bullish momentum clearly beginning to weaken.

From a technical structure perspective, although the four-hour chart shows volume breaking through the middle band, the uptrend lacks continuity. Instead, consecutive upper wicks have appeared, with obvious selling pressure from above. Meanwhile, the Bollinger Bands overall maintain a downward channel trend, with no substantial change in the trend—more of a consolidation recovery movement.

Trading approach remains following the trend. Rebounds are opportunities, and at higher levels, short positions remain the main focus.

Reference: Accumulate short positions in batches around 2150—2180
Downside targets: Continue watching 2080—2020 zone
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