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April 16 Morning ETH Outlook: The long upper shadow on the daily chart indicates weakness, and the price rebound is lackluster, favoring a high short position.
The overall trend at the daily level is relatively weak under pressure, with the price attempting to rise during the day but facing resistance and falling back, forming a long upper shadow bearish candle. The selling pressure above is very heavy, and bullish buying enthusiasm is subdued, with short-term upward space clearly limited.
The four-hour rebound momentum continues to weaken, with multiple attempts to break above resistance failing to succeed, and the overall structure gradually weakening. The bearish force is beginning to dominate the market.
Rebound to the 2380-2420 range, follow the trend to short, with the next targets at 2330 and 2250.