4.23 ETH Market Quick Overview

1. Market Review

Last night, U.S. stocks opened high and moved higher, but ETH surged to 2422 then encountered resistance and pulled back, this morning testing the bottom at 2330 with a slight rebound, currently in a phase of weak correction after a decline, overall showing a pattern of rising then falling, short-term weakening.

2. Trend Judgment

The most likely scenario today is sideways with weakness: the rebound is suppressed by moving averages, while downward momentum is still being released but not fully exhausted, mainly characterized by weak oscillation or slight downward probing, making a single-sided upward trend unlikely.

3. Key Levels

Support levels: 2330 (intraday low, first support), 2310 (strong support, if broken look for 2280)

Resistance levels: 2360 (short-term moving average resistance), 2380 (strong resistance during rebound, also today’s key dividing line between bulls and bears)

4. Practical Entry Points and Position Management

Main trend: go short with high confidence → entry zone 2355-2365 (during rebound pressure) → stop loss above 2380 (if broken, abandon short position) → take profit targets: first at 2335-2340, second at 2315-2320 → position size: no more than 5% of total funds per trade, split into 2 batches

Secondary support: aggressive small long → entry zone 2330-2335 (when bottoming and stabilizing) → stop loss below 2310 (if broken, exit) → take profit at 2355-2360 → position size: only up to 2%, light position for trial

5. Position Management Discipline

1. Prioritize trend-following shorts, avoid blindly bottom-fishing, re-enter on rebound pressure.

2. After reaching the first take profit, halve the position to lock in gains, and trail the remaining position with a moving stop.

3. If volume breaks through 2380, indicating trend reversal, immediately stop loss on shorts; if it falls below 2310, pause operations and observe.