#ETH

After the Spring Festival, a wave of historical black swan corrections has once again extinguished the beliefs of many. This correction in Ethereum directly pierced through the support level of the weekly structure from the end of last year. Here, in the coming weeks or months, we will first see consolidation in the range of 2200-3400. For swing trading, there is no need for too much pattern; when there is a decrease in volume and sideways movement, it will be about time to start a new round of surge. 4000 remains a significant resistance level, and a strong breakout is needed to see bullish momentum towards 6700.

The long downward line at 2080 will see a second test. In the short term, we will continue to oscillate upwards for another move. A breakout above 2920 will initiate a small-scale main uptrend, potentially reaching around 3030, with an extended high point resistance near 3400. There is a high probability that we will continue to see a significant second downward test here, and the second test low will also be a critical direction for the following two months.

#eth