Yesterday's market movement fully followed our prediction. After the $ETH short position was taken profit at 2290, we provided a strategy to add longs in the 2280-2288 range. The market dipped as low as 2282, precisely hitting the entry point, then rebounded up to 2365. The second target for the long position was successfully reached, securing a steady 70-point profit. Brothers who followed the call successfully took profits.

Now, let's look at the current technical situation. From the perspective of the Chan Theory structure, the 4-hour timeframe is now a typical central zone of oscillation. The rebound did not form a proper top divergence, and the decline did not break key support to form a bottom divergence. Neither bulls nor bears have gained the upper hand for now. The price is oscillating within a range, repeatedly testing the boundaries, waiting for the next directional move.

Looking at the 1-hour cycle, the moving averages are mostly converged and flat, and the Bollinger Bands are tightening continuously. The volatility range is narrowing, making the oscillation pattern very clear. The upper resistance at 2380 is the strong resistance level for this rebound and the upper boundary of the range. The 2280 level is the core support. As long as this level's body does not break downward, the downside space remains limited. Similarly, if 2380 cannot be broken effectively, the bulls will find it difficult to push higher.

Trading strategies are based on $ETH

Short at 2360-2370, stop loss at 2405, target 2320-2280

Long at 2275-2283, stop loss at 2238, target 2320-2380