Today’s morning “2nd cake” bearish outlook

**Trading plan:**
Sell short around **1790-1800**.
**First target:** **1760-1720**
**Second target:** **1700-1650**
Make sure your stop-loss is set.

The “2nd cake” has clearly lacked follow-through in the recent rebound. After the price climbed into the overhead pressure zone, buy orders quickly dried up. It repeatedly tried to push higher but kept failing; even with active turnover at the highs, it still couldn’t lift the price. This indicates the bulls are already running out of steam. On the chart, the short-term moving average system has turned into a bearish alignment, momentum indicators continue to weaken, and the shorts have started to take the initiative. Given this instrument’s high-volatility nature, once it turns, the downside often accelerates. In terms of execution, you can wait for the price to pull back and confirm the resistance before entering a short position. If the lower support area is repeatedly worn down, further downside will become inevitable. $ETH #PreIPOs第二期OpenAI认购