$ETH ETH has broken below the upward channel, and the bearish trend has been established, with the market continuing to decline.



The short-term resistance above is first seen around 2280. If it can effectively hold steady, the bulls will have a chance to further push up toward 2340; otherwise, if it cannot break through this resistance level, the current weekly rebound is likely to come to an end.

The short-term support below is focused around 2230. Once the 4-hour chart closes below this level and cannot regain stability afterward, the downward space for the market will be fully opened.

Short-term traders can operate around the upper and lower bands of the descending channel, sticking to a high sell and low buy oscillation strategy; from a medium to long-term perspective, I still do not believe that around 1700 is the bottom of this bear cycle, and we will wait and see what happens next.
ETH1.53%
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