$ETH Morning Market Analysis

From the current short-term structure, the market has shifted from the previous one-way rally upwards to a gradual consolidation at high levels. The resistance above is still quite obvious, but compared to yesterday, the suppression zone has moved slightly downward, now mainly stuck around 2330-2350. In the morning, the price tried to push up several times, but each time it was pushed back at this level, unable to stabilize, indicating that there are still many sellers above. This can also be seen from the candlestick structure: the highs are gradually being pushed down, and the rebounds are weakening. Previously, it could be pushed up quickly, but now it drops after a quick surge, which is a typical sign of “upward momentum weakening.” Additionally, the moving averages are starting to flatten or even turn downward, which generally indicates—short-term weakness is beginning, and the market is no longer in a strong trend. More importantly, the current market is characterized by “high-level sideways trading, but the center of gravity is slowly moving downward.”

Combining recent news, there are indeed some positive factors supporting the market, so the market can’t fall sharply in the short term. But the problem is—without sustained capital inflows to continue the rally, the market can only slowly digest positions at high levels, rather than pushing to new highs again.

Rick’s advice:
Enter short positions in batches within the 2400-2450 range. If the price pushes above 2460 without breaking, it can be seen as a strong resistance confirmation; look for support at 2380 below, and if it effectively breaks down, then watch 2350-2300.

You don’t need to analyze the market; just follow Rick’s guidance.