Last night, Ethereum had a brief surge, then experienced a sharp drop influenced by Powell's speech. However, the support around 1550 is strong, leading to an immediate rebound. After a second retest, it started to rebound during the day. Such a second retest near a key support level can be an opportunity to bet on a rebound, with a stop loss set at the low of the sharp drop. This is one way to operate in this market condition.

Currently, trades on Ethereum can be conducted based on the range, with a range of 1550-1610.

Operation Logic

Short near 1610 and 1600, with a stop loss at 1620.

Long near 1550 and 1560, with a stop loss at 1537.

When the price approaches the trendline, you can hold onto the momentum position a bit longer and wait for a breakout. If it weakens, then consider reversing the position. The short-term trend is weakening now, so it might be possible to attempt short positions near the resistance level. This range has about three points of operational space. If the entry pressure level is strongly broken, consider closing immediately and chasing long.