ETH outlook update:
The weekly chart shows a high push followed by a significant drop, breaking below the recent low of 2480, with a potential touch near the 2100 mark. The daily chart has seen three consecutive days of increased volume and sharp declines, and currently, there are no signals indicating a stop to the decline or a bottom formation. The opportunity for bottom fishing is unclear, and the market needs to recover the technical deficiencies through sideways fluctuations. On the 4-hour chart, we are currently in a rebound phase after a sharp decline with increased volume, while the upper level of resistance (2300, 2400, 2500) is quite evident. For intraday operations, the strategy focuses on short positions, with key attention on the upper resistance levels and waiting for confirmation of support on the lower side through sideways recovery.