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ETH breaks below the upward channel, confirming a bearish trend
Current judgment: The upward channel has been broken, a bearish trend is confirmed, and the market continues to decline.
Key levels
• Resistance above: 2280 (short-term strength/weakness boundary). Only by holding steady here can bulls attempt to rebound to 2340; if continued pressure persists, the weekly rebound is likely to end.
• Support below: 2230 (key defensive level). If the 4-hour level is effectively broken and cannot recover, the downward space will be fully opened.
Trading ideas
• Short-term: Focus on the upper and lower bounds of the descending channel, adopt a high sell and low buy oscillation strategy.
• Mid to long-term: Do not consider 1700 as the bottom of the bear market; further downside risks remain.
⚠️ Risk warning: The trend has turned bearish, be cautious when going long, and strictly set stop-losses.
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