Counterattack? Ethereum 2376 faces heavy pressure, bulls' last gasp?

Family members, don’t be fooled by the temporary calm!

Today is May 5th, and ETH’s current price is stuck firmly around 2376. I know some old-timers saw the rebound yesterday and want to chase longs, but listen to me: rushing in now is likely just fueling the bears!

I just did a deep dive into the 1-hour and 4-hour charts, and several “killer” signals have already appeared. We practical traders must stay alert:

1-hour chart (short-term trap): Although the price is fluctuating around 2370, the MACD has already shown a clear bearish divergence. The volume has shrunk significantly, which is a typical “rising without volume,” indicating the bulls are already out of steam.

4-hour chart (Mount Tai pressing down): The price just touched the upper resistance of the downtrend channel, and it has yet to break through the critical resistance at $2388$ with increased volume. As long as this level isn’t broken, the rebound is an opportunity for us to short!

Market reflection: Don’t forget, although BTC just surged to 80k, ETH’s exchange rate has been weak. This “follows the dip but not the rise” behavior clearly shows the main players are offloading.

Brothers, don’t fight the trend to the death. Since the market is going to pull back, let’s go with the flow and directly enter at market price!

ETH today’s short-selling sniper plan

Direction: Short (SELL)

Open position (market price): Enter at 2364

First take profit (TP1): 2340

Second take profit (TP2): 2317

Stop loss (SL): 2399