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ETH this wave pushed up to around 2400, clearly hitting resistance and unable to move further.
The daily chart has been rebounding for seven consecutive days, and it has also reached a critical decision point. Now it depends on whether it can break through the resistance level strongly today in one go.
If it can't break through and gets stuck at 2400, repeatedly stalling, then this upward move will lack momentum.
Instead, be more cautious, as there’s a high probability of a quick dip to shake out traders chasing the high, flushing out retail investors who follow the trend.
The support below is very clear; just keep an eye on the 2350-2340 range.
For those looking to go long in the short term, don’t rush to chase the rally and buy in. Wait patiently for a pullback to around 2340, which offers the best value for low-cost entry.
As long as 2350 isn’t fundamentally broken downward, the small-term bullish trend remains intact, and the overall direction can still be considered bullish.
The first resistance level to watch is 2400; once successfully broken and stabilized, look at 2430 next, then the strong resistance at 2460.
As for those planning to short, there’s no need to rush now; the ideal short entry point isn’t here yet.
Be patient and wait for the market to rally up to near the 2460 high, then combine the market rhythm to find high short opportunities.
Steady and reliable trading is better than forcing a position prematurely.
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