Ethereum's short-term market is overall weak, with a slight rebound that couldn't even touch 2350. After some fluctuations, it's diving down again. Currently, the trend is maintaining a triangular consolidation, with prices nearing the lower support level.
From the contract liquidation perspective, most of the chips below have been digested, leaving only a small amount around 2288. Even if the big players intentionally try to bait shorts and wash out this portion, it will be tough to effectively break below the previous low of 2263.
This latest dip coincidentally hit the triangle's lower edge and quickly bounced back, indicating strong support at this level that is hard to breach.
Once the support holds, the market will likely move upwards to digest the trapped positions above. There’s significant accumulation of chips above 2350, and once the rebound kicks in, it will probably test the triangle's upper edge around 2400.
In terms of strategy, it might be wise to set up short positions near 2400; if a clear stop-loss signal appears on the short-term chart, consider going long first, then flip to short at the resistance level. This way, there are opportunities on both sides, and we can adapt based on the market pattern afterwards.
From the contract liquidation perspective, most of the chips below have been digested, leaving only a small amount around 2288. Even if the big players intentionally try to bait shorts and wash out this portion, it will be tough to effectively break below the previous low of 2263.
This latest dip coincidentally hit the triangle's lower edge and quickly bounced back, indicating strong support at this level that is hard to breach.
Once the support holds, the market will likely move upwards to digest the trapped positions above. There’s significant accumulation of chips above 2350, and once the rebound kicks in, it will probably test the triangle's upper edge around 2400.
In terms of strategy, it might be wise to set up short positions near 2400; if a clear stop-loss signal appears on the short-term chart, consider going long first, then flip to short at the resistance level. This way, there are opportunities on both sides, and we can adapt based on the market pattern afterwards.