I mentioned to everyone yesterday that once ETH 2340 is broken again, the area to focus on above is the 2380-2410 resistance range, and the plan is to look for opportunities to set up short positions in this range. This morning, the market broke above 2340 and kept rallying all the way up to a high of 2415, which just happens to land on the resistance zone we had anticipated, and the price action matches our earlier judgment.

In the live trading group, the short was entered around 2390 in the morning. Right now, the market is still hovering around 2390. This position is currently at most down by more than 20 points, which is a normal fluctuation for a counter-trend trade—everyone should be clear on that. The market’s upward momentum is fairly strong, but when it reaches a key resistance level, we still want to bet on a round of pullback and rejection. Friends who want to follow should use light positioning, strictly control their position sizing, and remember: it’s a counter-trend trade, so risk control comes first.

Then let’s look at the logic through the details of the order book. First, look at Chan Theory. Right now, the short-term trend is clearly at the end of an upward leg; momentum is starting to fade, and the sell pressure above is continuously getting heavier. However, when this rally pushed above 2400, the trading volume did not expand in sync, which is a typical “rally to high levels with no volume” pattern—bulls’ willingness to chase higher has already shown signs of exhaustion.

The strategy is very simple: right now around $ETH 2390. If you want to trade, reasonably control your position size, and place a strict stop-loss at 2428. The targets are 2350-2320-2280. Once the stop-loss is breached, we’ll accept the loss and exit. After that, watch for the market to turn and look above 2500. If the stop-loss is not broken, based on the current volume and Chan Theory structure, the probability of a pullback is still quite high.