This morning, Ethereum continued its overall decline with a weak consolidation after the pullback. In the early hours, it briefly rebounded above 2230 but did not form a new breakout. Subsequently, the market began to steadily retreat downward, with each rebound failing to reach the previous high, forming a clear pattern of lower highs. As it broke below the 2200 level in the early morning, the bearish momentum expanded, with the lowest retest near 2160. There was a somewhat decent support at that point, and currently, the market remains around 2170, fluctuating sideways. From the market rhythm perspective, this segment is not a simple sharp decline but rather a structural pullback after the high-level selling pressure was released. Especially after continuous dips, the rebounds lack strength, indicating that short-term market sentiment remains cautious, and there is little willingness to chase the rally.

From the current market structure, the importance of the 2160 level lies not only in being the intraday low but also in being the first support after the previous decline, indicating that short-term funds are absorbing at this level. However, this support is not yet strong enough to push the market back into a bullish trend. The area around 2200 is the most critical resistance zone now because, from the trend connection, each rebound approaching this area has shown significant slowing, implying there are still substantial sell orders waiting to be released. If subsequent rebounds still cannot effectively stabilize above 2200, the market is likely to retest 2160 again. Once 2160 is broken again, the downward rhythm will extend toward around 2145. Conversely, only if the market truly breaks through and stabilizes above 2200 will there be a chance for the short-term to return to the above-2200 consolidation zone. Therefore, the subsequent trading strategy remains clear: mainly short on rebounds. #Gate广场四月发帖挑战 $ETH