The current market for Ethereum shows a range-bound fluctuation pattern after a rise and fall. During the early trading session, the ETH price started to rise from around $2411, reaching a high of $2427.90, but then quickly fell back to $2411.84, oscillating around $2414.16.

In terms of trading volume, the trading volume significantly increased during the early session, but after the price rose, it quickly fell back, forming a warning signal of "increased volume but stagnant price," indicating insufficient bullish momentum and potential for bearish forces to take the upper hand.

Market sentiment is cautious, with some bulls choosing to take profits, but there has been no extreme panic selling. Technically, the ETH price is fluctuating around the short-term moving averages MA7 = $2416.80 and MA30 = $2419.60, with the moving average arrangement showing that short-term moving averages are exerting pressure on the price. If the price effectively breaks below the key level of $2400, it may further probe down to $2385 or even $2350.

In terms of trading strategy, short-term traders can pay attention to the resistance level of $2425-$2430. If the price rebound is blocked, they can consider taking a light short position, setting a stop-loss above $2430, with a target looking towards $2400-$2385; if the price breaks below $2400, they can add to their short position with a target of $2350. For medium to long-term holders, they can focus on the fundamental support of the ETH ecosystem. If the price pulls back to the range of $2350-$2380, they can gradually increase their holdings.

Whether for short-term or long-term, it is necessary to set stop-loss levels, such as a short-term stop-loss at $2435 and a long-term stop-loss at $2300, while controlling the risk of a single trade to not exceed 2% of total capital. Additionally, pay attention to external factors such as Federal Reserve policies and cryptocurrency regulations that may trigger volatility.

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