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Let's first look at the four-hour chart of Ethereum. I've marked it very clearly: a wave one rapidly declined to around 2360, wave two rebounded to the key resistance level of 2400 but did not stabilize, encountered resistance, then moved into wave three retracement. Currently, Ethereum is at the end of wave three and the bottoming phase before wave four begins! The strong support below is marked around 2300 on the chart, with 2260 being the lifeline for the bulls. As long as this level is not broken, wave four will successfully bottom out and start a rebound!
It is recommended to enter long positions around 2310-20, targeting 2350-2400, with a breakout target of around 2450-60.
By the way, yesterday's short position around 2370-80 was aimed at 2320 to 2300, with a breakout target of 2290 to 2280. The short position was also perfectly closed for profit.
The above analysis is my personal humble opinion. Market conditions change rapidly, so strategies are for reference only. Use proper stop-loss and take-profit orders.