Will Ethereum ($ETH ) break below 2400?
Let's take a look at Ethereum's K-line trend with Little Meow:
Currently, Ethereum's weekly chart has stopped declining and rebounded, with last week's large bullish candle recovering the previous four weeks' losses, indicating strong bullish momentum. This week, although there is volatility, there are no obvious reversal signals, and the current trend remains upward, only constrained by a densely traded area above, enhancing short-selling sentiment.
In the short term, the 4-hour chart is in a slightly downward oscillating channel, with the lower edge coinciding with key support, forming strong support. Recently, the K-line's lower shadow is significant, and bearish volume is decreasing, suggesting that downward momentum is fading, making it likely to stop declining in the short term.
In terms of strategy, right-side trading is more prudent; one can enter short positions after clear stop-loss signals, with small but highly certain targets. Short-term positions must ensure profit-taking and stop-losses to improve capital efficiency and avoid being trapped.