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ETH’s momentum is clearly weaker than Bitcoin; it’s not moving up in sync, and it has formed an independent but slightly weaker structure.
After the earlier push higher to 2423, ETH has overall been consolidating and then pulling back. On the 4-hour timeframe, both attempts to break upward have failed; after meeting resistance, it has continued to drift lower, with the bulls lacking strength.
Resistance above is clearly defined: 2465 is the strong resistance for this phase, and 2350-2360 is short-term rebound resistance. For intraday trading, prioritize selling at high levels.
On the downside, first watch support at 2280; if it breaks, the downward move will continue. If the support holds, you can consider a short-term reversal long. Overall, focus on selling at high levels, and switch flexibly based on key levels.
$ETH