Subject: ETH Technical Analysis: A Perfect "Support Confirmation" and Subsequent Strategy

Everyone, let's review ETH's movement in the 2145-2190 range today.

In early trading, the price probed downward within a range, forming a clear low point. Subsequently, bull forces launched an upward attack, briefly testing resistance near 2190. However, due to the rapid upward push, selling pressure emerged at higher levels, causing the price to pull back.

The key lies in the subsequent action. The price did not directly break below the previous low, but instead found strong support near 2170. From the chart perspective, this is a very classic "retest confirmation" process.

Testing Resistance: Price probed up to 2190, testing the selling pressure above.

Retesting Support: Price pulled back to around 2170, a level that perfectly aligns with the upper boundary of the early morning consolidation range.

Confirmation Valid: Around 2170, we observed multiple instances of buying interest stepping in, with the price held firmly in place without falling back to the early morning low area. This indicates that 2170 has successfully converted from a resistance level into a solid support level, completing the "support confirmation."

Technical Pattern Interpretation:

This price action suggests that the market, after digesting the selling pressure from above, has laid a solid foundation for the next upward push by establishing new support at key levels. The bull forces have clearly demonstrated their defense line.

Trading Strategy:

Direction: Bullish (Long)

Entry Range: 2165 - 2175. This is the support zone just confirmed by the main forces, an ideal location for following the trend.

Stop Loss: 2148. If the price effectively breaks below this level, it means this support confirmation has failed, the pattern is destroyed, and you should exit decisively.

Target Levels:

First Target: 2222, the previous resistance level.

Second Target: 2240, an extension target following a breakthrough of 2222.

Summary:

The market has completed support confirmation at key levels, consolidating the bottom structure. On the premise that support holds, an upward breakthrough is a high-probability event. Trading against the trend with short positions at this confirmed support level is equivalent to "catching a falling knife," carrying extremely high risk.