$ETH Faces resistance at $2320

$ETH ‌
Key levels: Price is at $2281, between support at $2266 to $2270 and resistance at $2315 to $2320; a deeper bottom is at $2257.
Buy setup: Enter near $2266 to $2270 when bullish divergence is confirmed on the 5-minute chart; or build a position at $2257 with a stop-loss below $2250.
Sell setup: Gradually move positions to the supply zone at $2315 to $2320, and when the 4-hour moving average suppresses the price, close all positions around $2335 to $2340.
ETH is currently trading at $2281, holding the support at $2266, while facing resistance at $2315 to $2320.
The 5-minute chart shows bullish divergence, but the 4-hour trend remains bearish and below all moving averages.
A break above $2320 will confirm a rebound; if the close drops below $2257, the previous setup targeting $2230 will be invalidated.
The long-short ratio has surged to 2.58, indicating that although most positions are in floating loss, traders are still highly leveraged.
Whales profit from short positions, while retail traders buy the dip, creating a risk of liquidation below $2320.
Head traders show strong buying conviction, contrasting sharply with whales hedging near resistance levels.
Short-term: Short scalp longs starting from $2266, targeting $2315, with a stop-loss below $2250.
Medium-term: If support holds, build a position near $2257, aiming to retest the resistance at $2340.
Long-term: Hold spot holdings to earn staking rewards, while watching whether ETH can re-establish above $2320 and trigger a trend reversal.

Personal rambling, not investment advice!