$ETH The current rebound strength is relatively weak, but the bearish downward momentum is also exhausted. In the overall pattern, buying on dips remains the best strategy. Do not blindly chase highs during the rebound; patiently wait for a pullback to buy low.

The key short-term resistance levels are sequentially 2322, 2342, 2360, and 2400; a pullback to the 2272-2288 range can be used to set up low buys, with 2250 as the stop-loss level for protection. When the rebound reaches resistance levels, take partial profits in stages. If the price effectively breaks through a resistance level, follow the trend to higher levels. Whether shorting at high or buying at low, long-term holding is not recommended.

If positioning in a trend market, holding low-long positions is safer. The monthly bottom pattern has gradually stabilized, and the subsequent price has the momentum to break through key resistance and continue upward. During the pullback phase, it’s unlikely to open a deeper downward space.

The core support levels on the daily chart are 2270, 2250, and 2182. Only if the price falls below 2180 and cannot close back above 2236 will the short-term trend officially turn bearish. 2236 is a key position for the weekly EMA7 and is close to the 2-day BOLL middle band at 2224. Once lost, the overbought rebound pattern on the weekly chart will end, and the market will enter a 2-3 day correction phase, with the lower limit target around 1936-1972.

Some bears continue to expect a crash waterfall pattern, but the market bottom has already been formed in March-April. The extreme space for this round of correction is only within 200-250 points below 2200, and even if the market turns short-term bearish, it’s unlikely to reach this extreme correction level all at once.