ETH’s momentum is clearly weaker than Bitcoin’s. It hasn’t formed synchronous upward movement; instead, it has moved into a relatively independent, weaker structure.

Ever since the prior push higher around 2423, the overall price action has gradually turned into a pullback. The chart is showing a pattern of oscillating downward movement. On the four-hour timeframe, two upward attempts failed to form an effective breakout. After running into resistance, it kept falling along a line, and bullish follow-through has been clearly lacking.

Current overhead suppression is relatively clear. The 2465 area is strong phase resistance. Next, the 2350-2360 region is a spot where short-term rebounds are likely to get blocked. Under this structure, the intraday approach should primarily consider placing short positions based on the pressure levels.

For the downside, first watch how the 2280 level holds. If it breaks, there is a good chance of further continuation of downside space. If this support is effective, you can also consider taking a short-term reversal and participating on the long side to capture a rebound within the range. The overall idea is to stay mainly with short setups, and flexibly switch at key levels.
$ETH ‌#Gate13周年现场直击 #WCTC交易赛瓜分800万USDT