$ETH 1 hour:
The downward trend is currently ongoing, and no clear signals have yet appeared to indicate the end of the downward movement. Especially if there is a rise to the resistance area between 2324.19 and 2347.98, re-testing this area and then entering a sell position would be ideal. To enter a sell position, confirmation must be ensured (such as a clear bearish or reversal candle on the 5-minute or 15-minute timeframe). Potential targets are 2247.16 and below.
If the price breaks below 2247.16 and closes beneath it, a strong decline may continue, and in this case, attempting to buy would be risky.
For a clear reversal in direction to occur, the price must hold above 2347.98 and close with high trading volume. In this case, I would abandon my bearish bias.
Stop loss should be set according to swing highs/lows — for example, above 2348 when entering a sell, and below 2247 when entering a buy.
