ETH faces resistance after rallying! Bearish probes above 2300, potential for technical pullback within the day

As of April 24th, Ethereum (ETH) is currently priced at 2326 USDT. Based on the current candlestick structure, ETH has experienced a clear rebound and is gradually entering the previous dense trading zone pressure band. Short-term momentum is beginning to weaken; from the 4-hour and 1-hour structures, the short-term trend leans more towards oscillation followed by a pullback for correction, with a technical retracement space of 1%—2% within the day.

This strategy primarily adopts a short-term bearish trading approach, aiming to capture small intraday fluctuations for profit.

1. 4-Hour Level Analysis: Rebound Reaching Resistance Zone

From the 4-hour trend, ETH started rebounding from a low near 2000, with the overall market showing a oscillating upward structure, with lows gradually rising, indicating that market funds are gradually flowing back.

However, the current price has already entered the 2300–2400 resistance zone.

This area belongs to:

• Previous consolidation dense trading region
• Frequent bullish and bearish turnover zone

Therefore, oscillation and pullback at this position are normal technical behaviors.

Current 4-hour structure signals:

1. Rebound slope is beginning to slow down

Recently, the bullish candlestick bodies are shrinking, with more upper shadows, indicating that the bulls are starting to struggle at higher levels.

2. Price approaching previous structural resistance

Key short-term resistances:

• 2350
• 2400

If a quick breakthrough is not achieved, a short-term pullback is likely.

2. 1-Hour Level Analysis: Short-term Momentum Weakening

From the 1-hour candlestick structure, ETH has formed a consolidation platform above 2300.

Recent highs:

• 2310
• 2330
• 2340

Although highs are slightly rising, upward momentum is clearly weakening.

Two typical signals appear:

1. Trading volume gradually decreasing

Price is rising but volume is not expanding correspondingly, which usually indicates waning upward momentum.

2. Candlestick bodies are shrinking

In recent hours, candlestick bodies are noticeably shorter, indicating increasing market bullish and bearish divergence.

The common outcome of this structure is:

• Short-term pullback to the moving averages for correction.

3. Today’s Market Outlook (April 24th)

Combining the 4-hour trend + 1-hour structure judgment:

ETH is more likely to follow this rhythm today:

• Surge to test → Encounter resistance above → Technical pullback

Expected intraday fluctuation range:

• 2250 — 2350

Retracement space:

• 1%—2%, which is a reasonable technical correction.

4. Intraday Short Strategy

Opening Method:

Market short:

• Around 2326

First Take Profit (+1%):

• Approximately 2303

Second Take Profit (+2%):

• Approximately 2280

Stop Loss (-1.5%):

• Approximately 2361

📊 Strategy Summary:

Short position opening:

• Market short at 2326

Take profit 1:

• 2303

Take profit 2:

• 2280

Stop loss:

• 2361