Brothers, the 4-hour candlestick just formed after ETH's recent movement, and I have to say, the situation isn't looking good.

Don't be fooled by the price still hovering around 2180, the moving average system has already given signals. The 7-day moving average is at 2187, the 25-day at 2219, and the price is being pushed below these two lines, a typical short-term bearish alignment. Yesterday we were watching the resistance at 2250, and today the high point hit 2269 before dropping back, indicating strong selling pressure above.

Trading volume hasn't kept up either; this rebound is clearly on decreasing volume, not genuine buying. The daily chart is even more obvious, with the 7-day and 25-day moving averages starting to turn downward, indicating a weakening in the larger cycle.

Currently, two levels are key: the first support is at 2150; if it doesn't hold, the price could drop to 2100. On the upside, 2200 has become the new resistance; if the price can't break above it, there's no point in talking about a bullish reversal.

My view is that the short-term trend is bearish. Brothers looking to go long should hold back and wait until the price stabilizes above 2200. For those wanting to short, consider a small position if the rebound reaches around 2200 and fails to move higher, with a stop-loss at 2250, targeting 2150-2100. In this market, don't rush to catch the bottom. #Gate广场四月发帖挑战 $ETH