April 30th Double Bullish Pattern Analysis

ETH initially surged to a high of 2403.99, then faced resistance and pulled back. Overall, it has formed a downward structure in which the recent highs keep moving lower and the lows are refreshed in tandem. The rebound strength is weak, and the bulls’ offensive lacks sustained follow-through. After each rebound, there is a pullback with an even deeper magnitude, while the bears firmly control the market’s rhythm. In terms of volume and price behavior, during the rebound phase, volume keeps contracting, and the desire to chase higher prices is low. During declines, selloffs come with increased volume and heavy dumping, yet the buying support on the downside is severely insufficient, and bearish momentum continues to be released. In technical indicators, the three KDJ lines have turned and spread downward; the K, D, and J values all fall together, and the bearish signal is clear. The current price is trading around 2245 and is under pressure; in the short term, the rebound is unlikely to break through the overhead resistance. The key support below is at the 2218.83 low. Once this level is lost, the downside room will open further. Based on the overall structure, volume, and indicators, the short-term trend is relatively weak. Continue to hold a bearish outlook—rebound is a chance to short.

Trading suggestion: 2270-2300 range, target 2190-2100.$ETH $GT $BTC