With ongoing geopolitical tensions in the background, market panic and caution coexist. The second coin’s price action is weak, ranging/oscillating; the upward channel is completely sealed with no possibility of any breakout.

Earlier attempts to surge higher were lackluster, and trading volume has continued to shrink. Funds are unwilling to step in and provide follow-through. After the moving averages converge, a bearish turn occurs. Resistance at higher levels is gradually getting stronger. After a rapid spike up, an effective base has not been formed. Support below is fragile, leaving room for further downside.

In the short-term, the high-level consolidation has lost support and directly weakens to probe lower. Bearish volume continues to be released. The moving averages all turn down in unison. The needle-like rebound is only a technical pullback, not a trend reversal. Short-term correction pressure is huge. At present, it’s still looking bearish, mainly favoring a high-short strategy.

Trading suggestion: Short around 2080-2110, with downside targeting around 2020-1990. If it breaks down, that level is 1950.
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