May 1st ETH Market Analysis Overall Pattern: The downtrend channel has not been broken. From the 15-minute chart, ETH, after touching the 2404 high on April 27, has formed a clear downward channel pattern. The highs and lows are: high (1) 2404 → low (2) 2218 → rebound high (3) 2298 → new low again, forming a typical bearish arrangement. The current price 2263 is located in the area below the middle line of the channel, and in the short term it is still under pressure from the downward trend line.

Technical key signals—wave structure: The five-wave decline labeled (1)(2)(3)(4)(5) in the chart is clear. It is currently in the downward process of wave (5), and theoretically there is still room for further downside. The target points to the 2195-2200 range.

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

Volume characteristics: Each rebound sees shrinking volume, while the decline comes with expanding volume, indicating that bearish power is dominant and the bulls have little resistance strength.

Trading strategy suggestions

Short position ideas (main direction):
- Short near 2400, stop loss 2430, targets 2370, 2330, 23340, near 23340 (stop loss 2430),
- Short near 2330, stop loss 2350, targets 2300, 2450, 2300 (near 2300),
- Short near 2450, stop loss 2310, targets 2270, 2230

Long position ideas (countertrend rebound):
- Long near 2220, stop loss 2200, targets 2250, 2280, 2190
- Long near 2190, stop loss 2170, targets 2250, 2300, 2130
- Long near 2130, stop loss 2100, targets 2200, 2250

Risk warning: Current market conditions are within a downtrend channel, so shorting in line with the trend is the main approach. Countertrend long positions require strict stop-losses. In the day session, be alert to false breakout traps. If the price holds above 2300, a short-term rebound may reach the 2330-2340 area; otherwise, if it breaks below 2220, it will accelerate the drop toward 2195 and even 2130.

【Trading involves risks; analysis is for reference only. Gains and losses are your own responsibility】