Ethereum, driven by last night’s strength in the US stock market, continued its upward move overnight. After topping near the 2385 level, it met resistance, and is currently pulling back to around 2352 for consolidation and ranging.

From the four-hour structure, the overall trend is still maintaining a bullish setup. Price is moving within the upper-middle band, with bulls and bears repeatedly battling in high zones. Short-term rhythm is relatively strong, but the upside momentum has started to slow down. Key resistance above is focused on the 2400-2415 range; without a breakout there, bullish room can’t be further opened.

Current price is already at a stage high, so chasing longs isn’t a good value. In the daytime, it’s more likely to first look for a pullback and corrective adjustment.

In terms of the trading approach, priority is to consider setting up short positions in batches within the 2370-2390 range. On the downside, watch whether support around 2300 holds; if the price pulls back to the target zone and does not show further breakdown, then consider switching to long accordingly.
$ETH ‌#GatePreIPOs首发SpaceX