#ETH Technical Analysis

1. Weekly Level:
Regarding candlesticks, last week closed with a small bullish candle, following four consecutive bullish days from the bottom, with volume slightly increasing. However, the price failed to break through the resistance near 2460. The resistance area is only broken if the price surpasses the 2460-2380 resistance zone (needle tip resistance + Fibonacci 0.382), then it can move toward the higher Fibonacci 0.5 resistance zone + lower shadow pin position: around 2570-2600; otherwise, the price may pull back.

Because of the TD sequence, which is currently at TD8, marking the top of ETH, the price hit TD8 when approaching the 5000 level, and next week TD9 is expected to cause a sharp decline. Therefore, caution is advised regarding whether the TD sequence will turn to TD9 next week.
In terms of Bollinger Bands, the price failed to break through the middle band resistance area and pulled back after being resisted at the middle band.
The secondary indicator shows a rebound after being oversold.
The MACD has established a golden cross, indicating a mid-term trend reversal; KDJ points upward in the short term; RSI is weak and oscillating.

2. Daily Level:
Yesterday’s candlestick closed with a large volume bearish candle, directly breaking the long-standing upward trend line, breaking the upward trend, and forming a bearish engulfing pattern. Structurally, the price formed a converging triangle consolidation at the top, and with yesterday’s close, it also broke below the lower boundary of the triangle, a strong signal that the trend may shift from bullish to bearish.
Regarding Vegas indicators, a death cross occurred, and downward resonance suppressed the highest resistance point at 2460.
In Bollinger Bands, yesterday’s daily candle broke below the middle band, ending the bullish channel that was oscillating around the middle and upper bands.
Support levels are currently at 2200 (Bollinger lower band support + Fibonacci 0.5 support), the second support at Fibonacci 0.618 at 2140, and the third support at Fibonacci 0.786 at 2050.
Secondary indicators show MACD has confirmed a death cross, KDJ is diverging downward, and RSI is weakening—all pointing to a correction cycle on the daily level.
Projection: Yesterday’s candlestick bottomed at an intraday support of 2260. The pattern shifted from converging consolidation to a bearish triangle. Short positions can be taken within the triangle, with stops above the upper boundary. Targets are set at support levels of 2200, 2140, and 2050 for partial profit-taking.

ETH Contract Limit Order Short:
Entry: Gradually enter between 2350-2400, average price 2375
Take profit: 2303-2266
Stop loss: 2410