Ethereum surged early this morning, but the bullish momentum is starting to slow down. Currently, the price is repeatedly pulling back from high levels. In the short term, the 2380-2420 range has formed a clear resistance zone, and chasing longs at this level is not very cost-effective. The four-hour chart shows consecutive upper shadows, indicating that selling pressure above is gradually increasing. Once market sentiment cools down, there is potential for further pullback.

Operationally, it is recommended to focus on short positions in the 2380-2420 range, with a stop-loss above 2450. The initial target for the downside is 2320, with further support around 2280. The current market rhythm remains sentiment-driven, so avoid blindly chasing highs at elevated levels. Patience and waiting for a rebound to provide better entry opportunities will be more prudent.

Markets tend to rise quickly, but pullbacks are inevitable. Managing position sizes and timing accurately are key. $ETH ‌#Gate广场五月交易分享