Subject: ETH Technical Analysis: A Perfect "Support Confirmation" and Follow-up Strategy

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

In the early session, the price dipped within a range, forming a clear low point. Subsequently, the bulls launched an upward attack, briefly testing the resistance near 2190. However, due to the rapid ascent, selling pressure from above appeared, causing the price to pull back.

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

Testing Resistance: The price moved up toward 2190, testing the selling pressure from above.

Retesting Support: The price pulled back to around 2170, which coincides precisely with the upper boundary of the early session consolidation range.

Confirmation Valid: Around 2170, we observed multiple instances of buy orders entering, and the price was held firmly above this level without falling back to the early session lows. This indicates that 2170 has successfully transformed from a resistance level into a solid support level, completing the "support confirmation."

Technical Pattern Interpretation:

This price action suggests that after digesting the selling pressure from above, the market established a new support at this key level, laying a solid foundation for the next upward move. The bulls' main force has clearly demonstrated their defensive stance.

Trading Strategy:

Direction: Bullish (Long)

Entry Range: 2165 - 2175. This is the support zone just confirmed by the main force and an ideal position to follow the trend.

Stop Loss: 2148. If the price effectively breaks below this level, it indicates that the support confirmation has failed and the pattern is broken; exit decisively.

Target Levels:

First Target: 2222, previous resistance level.

Second Target: 2240, extension target if 2222 is breached.

Summary:

The market has completed the support confirmation at a key level, reinforcing the bottom structure. As long as the support remains valid, an upward breakout is highly probable. Shorting against the trend at this point is akin to "catching a falling knife" at a confirmed support level—extremely risky.