Ethereum current trend: bearish / weak consolidation in the short term. The larger timeframe (4 hours) is correcting the previous overly fast rally, and the smaller timeframe (1 hour) is in a downtrend channel. Although the overall long-term trend may not be broken yet (after all, it has been pulled up from 2000), the short term will most likely need to test the strong support below.

Right now, the current price 2093 is at the “midway point,” neither up nor down. Shorting at a relatively low level is less appealing; going long is less attractive because the trend is weak. Wait patiently for the price to rebound to around 2110 to short, or if there is a sharp drop to around 2050, consider going long—the win rate is higher.

Keep an eye on BTC movement: ETH is, to a large extent, following BTC. If BTC suddenly crashes, ETH will fall even more; if BTC stabilizes, ETH may have a chance to rebound.

Position management: It is recommended to trade with light positions (for example, 5%-10% position size), because the current market is a range-bound chop and is prone to getting stopped out by needle-like wicks that sweep both sides.

The current market structure is a pullback in which the bears have the upper hand. It is advised to primarily short on rallies, with key attention on the resistance level around 2110. #加密市场行情震荡 $ETH