Midday Thoughts on the Second Pancake


This round of sharp decline broke below 2300, with a low around 2255 before a slight rebound.

300 is the dividing line between bulls and bears: holding steady indicates a continued rebound; if it repeatedly fails to break, it may easily retest 2255.
Key levels: support at 2255/2274; resistance at 2316/2345/2377.
1. Long positions: volume confirms steady above 2300 and breaks 2316, lightly chase longs on the right side, target 2345, stop loss at 2280; if it retests 2255 and stabilizes, consider low buy, stop loss at 2240.

2. Short positions: volume breaks below 2274 and cannot rebound, follow the trend to short, target 2255-2218; if it rebounds to 2377 and faces resistance, try short with light positions, stop loss above 2423.

3. Observation: during the 2274-2300 range fluctuation, watch more and act less, wait for a clear direction.
Hourly chart: weak below 2300, turns strong after holding steady.
4-hour chart: effectively breaks below 2273, downside space expands to 2255-2218. $ETH #Gate广场五月交易分享
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