Weak correction after decline, rebound still carries hidden risks

ETH is currently in a technical rebound phase after a decline, but the overall trend has not yet fully reversed. The bulls and bears are entering a critical juncture, with prices and moving averages showing short-term turning points, but resistance remains heavy.

The current price is around 2328, with a slight intraday increase of 0.67%, just rebounding from the recent low of 2251, typical of a correction after a decline.
The battle between short covering and short-term funds lacks additional capital inflow, casting doubt on the sustainability of the rebound.

👉 Short-term long positions
Entry: Pullback to 2307-2315 Stop loss: Break below 2290 (below support level), exit at stop loss Target: First watch the 2360-2385 range, a volume breakout could target 2400.

👉 Short-term short positions (can wait)
Entry: Rebound to 2380-2385 encountering resistance (long upper shadow, volume stagnation) before entering. Stop loss: Break above 2400, exit at stop loss
Target: Watch the 2330-2310 range, break below support could target 2280-2250

This rebound is more like a “breath after a decline” rather than a sign of reversal. In trading, be sure to keep positions light, with stop losses; do not mistake a rebound for a reversal. A true trend reversal requires volume breakout above key resistance levels; otherwise, it’s likely to return to a downward rhythm.
$ETH