April 21 | Early Morning | 4:15 | Ethereum Watch 📉

At this stage, the overall trend has long been firmly controlled by the bears, and our long-term bearish logic still holds. @严恩助理号

On the daily timeframe, it’s not hard to see that every time the price rebounds and touches key moving-average resistance, it will meet resistance and drop back. The bulls have never been able to complete an effective breakout. The rebound strength keeps weakening step by step, and a standard weak downward structure has already formed.

The MACD has been running below the zero line for a long time. Even if the bears’ force occasionally eases slightly, it can’t change the overall weakening trend. Trading activity in the market remains sluggish, which is enough to show that off-market long funds are filled with a wait-and-see sentiment, and the ability to absorb selling is seriously insufficient. $ETH

You need to understand that every technical rebound is only an excellent opportunity for funds to reduce positions and exit. The subsequent price action will most likely continue to trade in a range while drifting weaker, constantly probing lower support. Following the major trend and setting up to go short is the safest trading choice right now.

🕸️Shorting target: Kong, aggressive direct short
🚘Shorting location: 2340-2370 Kong
🎯Hunting target: around 2240-2270
(If it breaks down, continue to look bearish at 2200 and keep running)

‼️‼️Risk warning: The content above is for reference only and does not constitute any investment advice. Please carefully evaluate your own risk tolerance and watch out for risk traps! $ETH