From early morning to now, the overall Ethereum market has displayed a choppy downtrend following a sharp rise and pullback. During the night, the price briefly rebounded to around the 2160 area, but resistance overhead was clear and it failed to form an effective continuation. It then quickly dropped again and broke below the prior consolidation range; after the low dipped to around 2085, signs of stabilization finally appeared. During the selloff, bearish momentum was released relatively concentrated. The consecutive bearish candles suppressed the price, causing the market’s focus to shift downward noticeably. After entering the morning session, although there was some rebound and repair, the overall strength was weak. Multiple rebounds toward the 2110 area failed to break through and instead fell back again. Overall, the trading rhythm leaned toward low-range sideways consolidation, which belongs to a weak repair structure. And in the live stream near midnight yesterday, the long-side approach using the given range was also validated very quickly—the big cake’s short-term setup added another win before sleep.

　　From the current order-book/price structure perspective, although the current 4-hour timeframe is still in a pullback cycle, the defense of the key support zone below is relatively solid. The prior low area has not been effectively broken with a significant increase in sell volume, indicating that there is clear follow-through from supporting funds in this range. At the same time, the lower band of the Bollinger Bands provides some support, and there are signs that the price is gradually returning toward the middle band. Although the moving average system is still maintaining a bearish alignment in the short term, its slope is starting to flatten, indicating that downward momentum is weakening. Based on the evolution of the structure, here it is more inclined to be defined as the building phase at the end of the current pullback, rather than the starting point of a new round of decline. In this context, from an execution perspective, it is recommended to focus mainly on buying on dips, using the support effectiveness of the 2070-2090 area below as an entry reference. On the upside, look at the repair potential in the 2140-2160 range. Until the key support is not effectively broken, participating in long rebounds in line with the structure’s rhythm offers a better cost-performance ratio. #Gate广场四月发帖挑战 $ETH