📣The Ethereum bearish trend is still ongoing, with support at 2000!

Ethereum short positions have gained another 100 points. Based on the current trend, Ethereum will touch the 2000 level. As long as there is a rebound, seize the opportunity to short; this trend is like picking money!

The four-hour chart of Ethereum shows a sideways to bearish pattern, with a weak rebound after being oversold. The price repeatedly oscillates between 2228-2350, and the bearish trend has not been fully reversed. In the four-hour cycle, the price is still in the recovery phase after a previous decline, with highs gradually moving lower. The rebound strength is limited, and it has not broken through key resistance levels. Overall, the structure is weak.

Moving Averages (MA): MA7: 2243.68, MA25: 2262.79, MA99: 2297.41. The price is above the short-term moving average but still below the medium- and long-term moving averages. The moving averages are arranged in a bearish pattern, with obvious medium- and long-term resistance. There is short-term support. MACD: DIF: -14.79, DEA: -15.51, MACD: 1.44. DIF and DEA are below zero, showing a golden cross sign, but the histogram is small, indicating that bearish momentum still dominates, and rebound momentum is insufficient. RSI: around 26.52, in oversold territory, indicating a short-term rebound demand, but oversold does not necessarily mean an immediate reversal; confirmation is needed with a price breakout. Bollinger Bands: the price is moving between the lower and middle bands, with the bands narrowing, increasing the tug-of-war between bulls and bears, waiting for a direction to be chosen. The middle band is the short-term support/resistance level.

Support level: 2200 (recent low, strong support)

Trend judgment: The four-hour chart remains dominated by a bearish trend. Currently, it is a rebound after being oversold, but the sustainability of the rebound is questionable. Caution is advised for a potential further decline.

Trading suggestions:

In the short term, continue to short in the 2300-2350 range, targeting 2250-2200 USDT, with a stop loss at 2400. If the price effectively breaks below 2200 support, the bearish trend will further extend.

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