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$ETH From the current perspective, we're in a concentrated liquidation period for bears. There are too many people shorting right now. 🐶 The whale will keep pulling prices up to liquidate short positions and increase liquidity. Many people talk about a bull market comeback, but that's just blind following the trend. After two years of bull market in Ethereum and BTC, it's unrealistic to expect a bull market rebound after just one month of consolidation. Most likely, we'll see a third trend downtrend. However, for now, Ethereum will continue to test the 2400 level. 2400 is a trapped long position from the early February decline. Personally, I don't think it will break through easily—the whale wouldn't be so kind as to help people break even. That said, if it does break through, it will definitely continue moving up for a while. Around 2600-2800 should be the limit. If it rallies beyond that, it's beyond my understanding. After all, many people chased shorts on that waterfall day yesterday, and now that prices have been pulled up so many points, all positions that should have blown up probably have. The higher it's pulled, the more new shorts might enter, while bulls will hesitate. So weighing the pros and cons, I think 2600 should be the maximum. If we're being aggressive, we could start adding short positions now around the 2400 level and continue scaling in as it develops.
Currently, 2400 is a key level.