ETH April 21st Latest Strategy & Analysis

ETH:
Price rebounded from a low of 2255 to around 2346.84 before entering a decline. Currently, on the 15-minute chart, the price is consolidating around 2306. The Bollinger Bands are generally opening downward and then narrowing. The price is testing the middle band at 2312.46, with the lower band at 2301.16 forming short-term support, and the upper band at 2323.76 acting as short-term resistance;
The MACD indicator shows DIF = -3.39, DEA = -2.20, with the green bars gradually increasing, indicating persistent bearish momentum, still below the zero line. Trading volume remains subdued. In the short term, the market shows a pattern of a high-level pullback with intensified bullish and bearish battles, and rebound momentum remains under pressure.

Bearish Logic:
The zone between 2315-2330 is a strong intraday resistance area. When the price rebounds to this zone, it is likely to face double resistance from the upper Bollinger Band at 2323.76 and the MA30 at 2315.99, making sustained rebounds difficult. If the price drops with increased volume below the 2301.16 lower band support, the downtrend is likely to continue. The first support below is at 2280, and if broken, the price could test the 2260-2250 range. In extreme cases, it may test the previous low support at 2230.

Risk Warning:
If the price fails to break below the 2301.16 lower band support, and the MACD forms a golden cross with volume gradually increasing, the bearish trend could quickly reverse. Caution is advised for potential rebounds to the 2330-2350 zone, and strict stop-loss measures should be set to avoid trend reversal risks.

Main Strategy: Slightly Bearish
· Short Entry Zone: 2315-2320
· First Target: 2280
· Second Target: 2250
· Stop-Loss Level: 2340