ETH April 17 Morning Short-Term Analysis

The current price is around 2350. The market is in a balance between bulls and bears, lacking a clear one-way direction.

Trading Logic and Key Levels:

Strong resistance overhead: $2375-$2400
This is a key supply zone on the 4-hour timeframe. The price has attempted to push up three times without successfully breaking through, and there is clear sell pressure. Before the price can hold above $2400 with volume, this area is suitable for looking for shorting opportunities.
· Support below: $2300-$2320
The first support zone for the day. If the early-session pullback revisits this area, there is a technical rebound demand. A more critical strong support lies in the $2250-$2270 range.

Specific Trading Strategies:

Aggressive shorts: Lightly try short positions around $2365-$2380, place a stop-loss above $2405, and target $2320-$2300.
Conservative longs: Lightly try long positions around $2300-$2310, place a stop-loss below $2280, and target $2350-$2370.
Wait and see: The current midpoint at $2340 can be left alone for now; wait for the price to approach the above boundaries before making decisions.

Summary: In the early session, it is recommended to adopt a range-trading strategy of selling high and buying low. Focus on the resistance at $2380 and the support at $2315. Before breaking through these two levels, it is not advisable to chase or sell impulsively.