As long as $ETH does not break through the historical high on a weekly level, there will be opportunities for a pullback to get you on board. The last time was 2140, with a post made on the day of the crash; previous weekly level breakthroughs have all completed pullback tests with support and resistance switching. This time should also follow suit. From a larger perspective, this is a healthy pullback, without a doubt.

Ethereum's daily support at $ETH has been broken, is there still hope? Let's calmly look at the weekly chart. I have divided the weekly operating area into three parts. First, looking at the previous part, after Ethereum breaks out from the bottom blue area, there will be a weekly level pullback test, with a pullback of more than 20%. This time, it is also a pullback of more than 20%. Personally, I believe as long as Ethereum does not drop back into the blue consolidation area and oscillates in the range of 2140 to 2800, it is all preparation to break into the yellow area. Of course, this is a weekly chart and cannot be used for opening short-term high-leverage contracts. Currently, the distance to the weekly support-resistance exchange point is only 5%. Bitcoin's market share is still soaring, and the market share is about to be overbought again at the weekly level. Here, I personally do not recommend going short anymore. Unless it breaks this 5% space, if it drops below 2140, you can confidently short.