May 1 ETH Market Analysis — Overall Structure: The downward channel has not been broken. From the 15-minute chart, after ETH touched the 2404 high on April 27, it formed a clear downward channel. High point (1) 2404 → low point (2) 2218 → rebound high (3) 2298 → new low again, forming a typical bearish alignment. The current price 2263 is located in the area below the channel’s middle rail, and in the short term it is still suppressed by the descending trendline.

Technical key signal wave structure: The five-wave decline labeled (1)(2)(3)(4)(5) on the chart is clear. It is currently in the process of the (5) wave moving downward. Theoretically, there is still room for further downside. Targets point to the 2195-2200 range.

Support and resistance:
- Resistance above: 2298 (previous high), 2338 (previous dense trading area), 2400 (upper channel rail + psychological level)
- Support below: 2220 (intraday low), 2195 (previous low), 2130 (expanded target)

Volume characteristics: Each rebound shows shrinking volume, while declines see expanding volume, indicating that bearish power is dominant and the bulls’ resistance is weak.

Suggested trading strategy
Short ideas (main direction):
- Short near 2400, stop loss 2430, targets 2370, 23302340
- Short near 24502300, stop loss 2350, targets 2300, 24502300
- Short near 2310, stop loss 2310, targets 2270, 2230

Long ideas (countertrend rebound):
- Long near 2220, stop loss 2200, targets 2250, 22802190
- Long near 2170, stop loss 2170, targets 2250, 23002130
- Long near 2130, stop loss 2100, targets 2200, 2250

Risk warning: Current market conditions are within a downward channel; selling short in line with the trend is the main approach. Countertrend long positions must use strict stop-loss. During the day, be alert for false-breakout traps. If the price holds above 2300, it may rebound in the short term to the 2330-2340 area; otherwise, if it breaks below 2220, it will accelerate the move downward toward 2195 and even 2130.

[Trading involves risks; analysis is for reference only. Your profits and losses are your own responsibility]