May 1st ETH Market Analysis Overall Pattern: The downward channel has not been broken, and bears are dominant. From the 15-minute chart, since ETH touched the 2404 high on April 27th, it has formed a clear downward channel pattern. High point (1) 2404 → low point (2) 2218 → rebound high point (3) 2298 → new low again, forming a typical bearish arrangement. The current price of 2263 is located below the middle line of the channel, still under the pressure of the downward trend line in the short term. Technical key signals wave structure: The five-wave decline marked as (1)(2)(3)(4)(5) in the chart is clear. Currently, it is in the (5) wave downward process, with theoretically further downside space, targeting the 2195-2200 range. Support and resistance: Resistance above: 2298 (previous high), 2338 (previous dense trading zone), 2400 (upper channel line + psychological barrier) Support below: 2220 (intraday low), 2195 (previous low), 2130 (extended target) Volume characteristics: Each rebound shows decreasing volume, while decline volume increases, indicating bearish strength is dominant and bulls are weak in resistance. Trading strategy suggestions Main short position ideas (main direction): Short near 2400, stop loss 2430, target 2370, Short near 2330-2340, stop loss 2350, target 2300, Short near 2450-2300, stop loss 2310, target 2270, 2230 Long position ideas (countertrend rebound): Long near 2220, stop loss 2200, target 2250, 2280; Long near 2190, stop loss 2170, target 2250, 2300; Long near 2130, stop loss 2100, target 2200, 2250. Risk warning: The current market is in a downward channel, mainly trading with the trend, and countertrend longs require strict stop-loss. Intraday, beware of false breakout traps. If the price stabilizes above 2300, a short-term rebound to 2330-2340 may occur; conversely, a break below 2220 will accelerate the decline toward 2195 or even 2130. 【Trading involves risks, analysis for reference only, profits and losses are personal responsibility】