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Ethereum currently exhibits a clear head and shoulders top pattern. Such a significant technical formation is indeed worth caution. However, a genuine decline often requires time to brew and external catalysts—such as policy changes, major news shocks, or the fermentation of certain key statements—that could serve as triggers. Based on the price, around 2400 is the main target in the near term, and conservatively, it may take about a month to achieve.
From a macro perspective, the overall downward trend line pressure has been persistent, with no signs of loosening. Don't be fooled by the continuous buying in the spot market by some institutions—they are not short of funds or time and can wait it out. This is a long-term strategic approach, which is entirely different from short-term technical pressure. The trend has not yet turned, and the bearish pressure still exists.
Honestly, it's just waiting for something to happen externally; otherwise, 2400 won't be reached.
That group of institutions really knows how to drain energy. Anyway, we need to cut losses first.
Institutions keep buying, but us retail investors don't have that patience. We need to think about how to survive until the trend reverses.
This wave really depends on policy sentiment; one word could cause a collapse.
Honestly, I can't hold on anymore. Feels like I'm being cut every time.
The long-term strategies of institutions are completely different from our way of survival.
That group of institutional investors is like this, still accumulating, waiting. Retail investors like us can't afford to be impatient.
2400 is indeed a target, but let's start with a month; don't expect to reach it in a week.
The trend line is still pressing down, and the bearish momentum needs to continue building. It's too early to sell now.
It feels like the market is repeatedly testing, waiting to see who will lose their composure first.
This wave really tests patience; short-term traders are probably going to get drained.
I've seen through the institutional playbook long ago, which is to quietly make big profits at the bottom. Why are we retail investors so anxious?
Don't over-rely on trend lines; I think the key still depends on policy factors. If policies change, everything can collapse.
Let's wait and see. The bearish pressure is real, but a breakdown isn't that quick, so there's no need to run now.
With such strong technical pressure, I actually think the bottom might come earlier than expected, similar to last year's market.
That's a reasonable point, but I'm a bit skeptical about the 2400 figure—what if it reaches that level ahead of schedule?