ETH 5-8 Market Briefing and Trading Suggestions

1. Market Briefing
Today, ETH continues its high-level consolidation and pullback pattern, with 15-minute chart showing a clear pattern of sharp rise followed by a decline and breakdown:
Price quickly drops from the recent high around 2423, breaking below the previous upward trend line support, currently consolidating around 2293.
Overall structure indicates the previous upward wave has completed, and it is now in a downward correction cycle, with a clear bearish trend for the day.
Key support levels: 2279-2280 (intraday low), 2229-2230 (strong support); key resistance levels: 2333-2335, 2375-2380, 2420-2423.
2. Trading Suggestions (Short-term perspective, for reference only)
Short positions strategy (main direction)
First short entry zone: 2330-2335
Entry: Lightly short when the price rebounds to around 2330-2335 and faces resistance
Stop-loss: Above 2350 (if it breaks above the previous high resistance, abandon the short idea)
Targets: 2300 → 2280 → 2250 (take partial profits in stages, gradually move stop-loss down)
Second short entry zone: 2375-2380
Entry: If the price rebounds to the strong resistance zone 2375-2380 and faces resistance again
Stop-loss: Above 2410
Targets: 2350 → 2320 → 2300
Long positions strategy (only lightly test support levels)
First long entry zone: 2279-2280
Entry: When the price stabilizes around the support zone 2279-2280 (showing signs of stopping decline)
Stop-loss: Below 2260 (if it breaks the intraday low, abandon the long)
Targets: 2300 → 2320 → 2335
Second long entry zone: 2229-2230
Entry: If the price stabilizes at the strong support zone 2229-2230 with signs of stabilization
Stop-loss: Below 2210
Targets: 2260 → 2280 → 2300
Additional notes
The overall intraday sentiment is bearish; long positions are only suitable for short-term trading at support levels with strict stop-loss, avoid overtrading.
Key breakout: If the price reclaims above 2350, the bearish trend will temporarily weaken, and a sideways to bullish adjustment should be considered.
Risk reminder: Cryptocurrency markets are highly volatile. The above analysis is purely technical and for reference only, not investment advice. Profit and loss are at your own risk.