After an overnight surge to around 2246, it met resistance and pulled back. Although it did not touch the previous resistance at 2270, there are clearly signs of stagnation at high levels. In the short term, bullish momentum has begun to weaken, and the pace is gradually turning weaker.

From the four-hour structure, although the price once moved above the middle band, continuous pushes failed to effectively break through the key resistance. Instead, it surged to higher levels and pulled back multiple times. The upper band of the Bollinger Bands is clearly putting pressure; the market is currently more inclined toward a high-level rangebound-to-weakening scenario.

In the short term, the area around 2250 has already formed a clear resistance zone. If another rebound tests it and fails to break through, it will most likely continue the pullback rhythm.

In terms of the trading approach, focus on going short during the day:
Refer to entering short positions in batches around 2250, and watch for signs of rejection before entering
The target looks toward around 2150; if it breaks, it may further probe lower

Overall, high levels no longer have value for chasing longs. Following the trend and going short is more prudent. Focus on the entry opportunities provided by rebounds.
$ETH #Gate上线Pre-IPOs