ETH Morning Outlook

Last night's market initially surged strongly, facing obvious resistance around 2200, followed by a slight pullback. Overnight, the price probed up to 2192 again before dropping sharply, reaching a low of 2117. Currently, it is consolidating around 2140, with the bullish momentum clearly weakening.

From a technical perspective, although the 4-hour chart broke above the midline with increased volume, the upward movement lacked sustainability. Instead, multiple upper shadows appeared consecutively, indicating significant selling pressure overhead. Meanwhile, the Bollinger Bands remain in a downward channel overall, and no substantial trend change has occurred—this is more of a rebound correction.

The strategy remains to follow the trend: rebounds are opportunities, and maintaining a short position at higher levels is preferred.

Referencing: Layering short positions around 2150–2180
Downside targets: Continue watching the 2080–2020 zone