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Ethereum Market Brief: Rebound Does Not Change Downtrend, High-Level Shorts Still Viable
Ethereum experienced a short-term rally driven by news in the early trading session, but from the four-hour chart, the downtrend remains intact. It is still in the bottoming phase, and the overall bearish pattern has not been broken.
In this market environment, the strategy of entering short positions at high levels remains effective. Do not be fooled by short-term rebounds into blindly chasing longs. Additionally, considering the external market trends, the US stock market has also maintained a recent downtrend. Under the influence of a double bearish atmosphere, the probability of success for high-level short positions on Ethereum is higher. Trading with the trend offers more certain profits.