ETH Short-term Analysis: Intensified Bull-Bear Struggle Around 2450
ETH is currently fluctuating around 2455, still within an upward channel on the daily chart, but several key short-term signals are worth noting:
1. Decreased Volume
The trading volume in the last 24 hours has decreased by 18% compared to the previous day, with a noticeable weakening of buying pressure in the 2450-2480 range. The hourly chart shows three consecutive candles with long upper shadows, indicating that every time the price rises, it encounters selling pressure.
2. Key Levels
Upper Resistance: 2480 (previous high) + 2520 (upper channel line)
Lower Support: 2420 (4-hour MA30) + 2380 (trendline support)
3. Market Sentiment
Data shows that the short-term options Put/Call ratio has risen to 0.85, with some large players positioning hedging positions above 2450. The funding rate for perpetual contracts has turned negative, indicating that leveraged long positions are retreating.
The market is ever-changing, precise levels and sudden signals have been released in the internal strategy pool
