From the low of 2388, $ETH rose all the way to the high of 2453 but couldn't continue rising and started to pull back.
Short-term resistance is at the upper wedge at 2450 and the previous high at 2480, while support can be seen at the round number of 2400 and the trend line at 2380.
From the four-hour candlestick chart, Ethereum previously moved upward with consecutive bullish candles but quickly retraced upon hitting resistance.
After a rebound and some fluctuations, it was found that the bullish momentum was insufficient, confirming the entry into a retracement phase.
This time, it didn't refresh the high point, and the pullback was quick, indicating that the bullish strength is somewhat waning.
The BOLL indicator shows that after hitting the lower band, the price's rebound lacked momentum.
Today, it is essential to focus on those resistance levels, as they relate to the future market trend.
