ETH is in a low-range consolidation after a downtrend, dominated by bears, but the decline has slowed, entering a critical position where bulls and bears compete.

【Core Signals】

1. Price below VWAP (2380) and under pressure, not yet making a new low, forming a downward continuation pattern

2. Order flow shows previous massive sell orders released, current buy and sell orders are weak, stuck in a stalemate

3. CVD is flat, Delta is negative, bears are slightly favored but momentum is insufficient

4. Open interest is decreasing, funds are in a wait-and-see mood

【Key Levels】

• Resistance: 2370-2380 (strong), 2340-2350 (weak)

• Current price zone: 2315-2320

• Support: 2300-2305 (weak), 2280-2290 (strong)

【Trading Strategies】

• Short: Resistance near 2340 + increased sell volume, stop-loss at 2360, target 2300/2280

• Long: Stabilization near 2300 + buy orders rebound, stop-loss at 2280, target 2340

• Wait-and-see: Follow up after the trend clarifies, go long if it breaks above 2370 or go short if it breaks below 2300

【Risk Warning】

The bearish pattern remains unchanged, the sustainability of the rebound is doubtful, if it cannot break above 2370, further decline is possible, beware of a breakdown. $BTC $GT $ETH