Hong Kong, April 17th, 8:19 PM, ETH Market Analysis

The long-term cycle is upward, the medium-term cycle is stabilizing, and the short-term cycle is relatively strong. This is the best time for a correction to end and for a second rally to begin. The average funding rate across the network is -0.0017%. Under negative funding conditions, bears continue to pay fees, but the price refuses to fall. This is a classic prerequisite for a short squeeze.

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Reference Sell: 2380—2403 (light position trading)

Reference Buy: 2281—2220 (preferential trading)

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ETH Resistance Levels

First resistance: around 2380 (58% chance of breakout)

Second resistance: around 2403 (48% chance of breakout)

Third resistance: around 2430 (40% chance of breakout)

Fourth resistance: around 2443 (30% chance of breakout)

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ETH Support Levels

First support: around 2336 (35% chance of breakdown)

Second support: around 2281 (25% chance of breakdown)

Third support: around 2220 (15% chance of breakdown)

Fourth support: around 2206 (8% chance of breakdown)

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