4.22 Morning “Er Bing” Market Analysis

Ethereum’s recent price action generally follows the broader market, with a high-level sideways range. The rebound strength is clearly weaker than expected, and overall it remains in a range-bound consolidation pattern. From the daily chart perspective, although there are signs of a slight price lift, there is not enough sustained upward momentum. The MACD fast and slow lines are sticking together and flattening, volume is gradually shrinking, and the RSI is also in a neutral-to-weak area, meaning there are no conditions for a strong bullish breakout in the short term.

Considering that resistance overhead is fairly dense and market sentiment has not fully recovered, it is not recommended to chase long positions at this stage. Instead, a better approach would be to take shorts on rebounds. Specifically, you can gradually open short positions near the $2,340–$2,380 area. Targets should be set sequentially lower to the $2,300–$2,260 range, with a defense level set above $2,390. If the price effectively breaks down below $2,260, additional downside space may open up further.

Note that if Ethereum unexpectedly increases volume and holds above $2,400, the short-term bearish structure could change. In that case, you should adjust your strategy in a timely manner. During trading, please strictly set stop-losses and control your position size.