$ETH Trend Analysis

The overall trend of Ether is relatively clear, having gone through a month of broad consolidation. It is currently attempting to move away from the center, but the momentum has begun to weaken. From the perspective of the Chen theory, the strength of this upward movement is insufficient, and a pullback to the center for oscillation is expected. We will continue to view it from an oscillation perspective, which still presents a state of tug-of-war between bulls and bears.

Currently, Bitcoin, US stocks, and the ETH/BTC exchange rate are all at high levels. If the E sentinel withdraws support, there will be significant downward space here. Assuming a reversal occurs here, the most favorable path for the bears is shown in the chart, first dropping to 2400, then bouncing back to 2500, and subsequently heading straight for 2000.

Returning to the short term, we are at a high point on the 4-hour level, so we will switch to the 30m level to choose an entry point. If a small degree top structure can form, such as an M-top, and the box breaks down with no recovery, then entering with the trend has more controllable risks.