ETH Market Analysis

2026/4/23
Valid for four hours: 20-24
Main Path
Failure to break higher at 2423 → Sideways at high levels → Volume-driven decline → Breaks below the midline → Touches 2330 → Currently in a weak rebound phase after a continuation of the bearish trend
Secondary Path
Small rebound after 2330 stops falling → MACD green bars shrink → Short-term repair needed
But overall still operating below the midline → Rebound remains weak
If 2360 cannot hold → Continue the downward trend and retest lows

Support Levels
2330 (current short-term support)
2300 (key support level)
2280 (accelerated breakdown zone)

Resistance Levels
2345-2360 (current rebound resistance zone)
2380 (strong resistance at midline)
2420 (previous high pressure)

Alternative Path
If volume increases and breaks above 2360 and stabilizes →
Switch to a sideways structure (range between 2330-2380)
If volume remains low and faces resistance near 2350 →
Bearish continuation → Further retest of 2330 or even a breakdown

Trading Suggestions
Short:
Short near 2360
Stop loss: above 2380
Take profit: 2330 / 2300

Long:
Light short-term long near 2310
Stop loss: below 2300
Take profit: 2345 / 2360
Currently in a weak rebound phase, do not chase longs

Rhythm Summary
Current rhythm:
End of rally → Sideways → Volume-driven decline → Weak rebound repair
Bollinger Bands:
Price breaks below the midline and runs close to the lower band → Bearish structure remains unchanged
MACD:
Red bars start to shorten → Bearish momentum weakens but has not turned bullish
RSI:
Rebounds from low levels → Technical correction, not a reversal
Conclusion
The current market is essentially a rebound within a bearish trend
Key points:
If 2360 cannot hold → Continue to look for downside
Break below 2330 → Accelerate the bearish trend
Short-term core strategy
Focus on shorting rebounds
Support levels only for short-term longs, avoid trend longs