ETH Market Analysis

2026-04-20
12-16
Main Path
Continued decline → Rebound upon touching 2250 level → Current rebound near 2280 → Technical correction within a bearish trend
Secondary Path
Fluctuation around 2280 → If unable to break above the midline → Continue to fall back to test 2250
If volume increases and stabilizes above 2280 → Rebound continues to the 2300-2320 range

Support Levels
2250 (short-term low)
2220 (previous structural support)
2200 (strong support)

Resistance Levels
2285-2300 (current resistance zone)
2320 (midline + previous consolidation zone)
2350 (trend reversal point)

Alternative Path
If 2280 holds effectively (continuous bullish candles + volume)
Then proceed:
Rebound continues → 2300 → 2320
If 2280 faces resistance and falls back
Then proceed:
Second bottom test → 2250 → 2220

Trading Suggestions
Short:
Sell in parts within the 2285-2300 range
Stop-loss: above 2320
Target: 2250 / 2220

Long:
Light position attempt in the 2220-2250 range
Stop-loss: below 2200
Target: 2280-2300
Currently, the area near 2280 is a rebound consolidation zone; it’s not recommended to chase longs

Rhythm Summary
The current rhythm is very standard:
Downtrend → Low-level rebound → Encounter resistance → Wait for a second decline confirmation
Bollinger Bands:
Price still below the midline, facing pressure near the midline during rebound
MACD:
Starting to form a golden cross but with limited momentum, indicating a weak rebound
RSI:
Rebounding from lows but not entering strong zone, more of a correction than a reversal
Conclusion
Overall still dominated by bears, the rebound is just a correction
Core idea:
Wait for rebounds to short, support levels only for short-term longs, no trend reversal expected