From the daily chart perspective, after Ethereum started from the low of 1740, it formed a classic bullish structure of a W bottom plus a retest of the neckline. The purple horizontal line in the chart indicates the upper boundary of the prior ranging/sideways consolidation zone, which is also a key defensive level for the bulls at 2200-2180. The MACD green histogram bars are already in place, and all three KDJ lines are diverging downward, indicating that the bearish trend at the daily level has not ended yet. The market can only surge again after the pullback retests and confirms support!

It is recommended to enter a short position around 2310-2330, with targets at 2260-2240. If it breaks down, watch for the area around 2200-2180.

Also, in the analysis publicly released across the whole internet on April 24, a long position around 2310-20 was given, targeting 2350-2400. On the morning of April 27 at 9:00, it was successfully closed with profit—congratulations again to fellow coin friends who followed along! #以太坊基金会解质押约4890万美元ETH