Ethereum Morning Market Analysis



Ethereum followed Bitcoin's surge and quickly retreated, with insufficient bullish momentum, clear selling pressure at high levels, and the price falling into a oscillating decline, with the overall trend being weak and the rebound lacking sustainability.

The price's sharp rise and fall left a prominent upper shadow, with strong resistance above. In the short term, bullish momentum is exhausted, the 4-hour trend gradually weakens, and the bears begin to gain strength, showing an overall oscillating downward trend. Rebounds are mainly sold into.

On Thursday morning, it is recommended to short around 2380 after a rebound, with the first support at 2260, and if broken, continue to watch the 2200 level. Strictly control position sizes, set stop-losses properly, and avoid blindly bottom-fishing. $BTC
BTC1,11%
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