ETH's recent momentum is actually quite clear now; as long as it doesn't break above the high, it's giving bears an opportunity.

After hitting resistance around 2400 yesterday afternoon and quickly falling back to the 2313 level, there was a rebound in the evening, but it was again suppressed near 2380. Two consecutive failed attempts to break higher indicate significant selling pressure above, with bullish momentum gradually waning, and overall performance clearly weaker than Bitcoin.

From the four-hour structure, since the high of 2463, the price's center of gravity has been continuously shifting downward, with lower highs and lower lows. Although there was a short-term rebound supported by the midline, its continuity is poor, and the rebound looks more like a correction rather than a sign of strength. Currently, the 2400 level remains a key resistance. Until a valid breakout occurs, it’s not advisable to chase long positions.

For intraday trading, it’s more prudent to continue deploying short positions around high levels, considering entering in batches within the 2370-2390 range, with targets around 2310-2280. Follow the range-bound decline rhythm.