Ethereum Analysis and Reference Strategy:

After the big bullish candle two days ago, yesterday a solid bearish candle directly pierced through the market from 3547 to 3300 to complete the close. A bearish engulfing signal appeared near the upper Bollinger Band level on the daily chart, and the overall short-term trend has undoubtedly shifted from bullish to bearish. It is expected that today's downward trend will continue, with intraday pressure at 3380 and 3460 suppressing market rebounds.

Looking at the short-term, the four-hour chart has formed an M-top trend at a high level, with the bottom support around 3250. The downward momentum in the short term still exists. After the M-top appears, even if there is a rebound in the market, it is very likely that it will be a spike or a failed rebound followed by continued decline.

In summary: Short-term oversold rebound, it is expected that a temporary support will form around 3250 in the evening session. Intra-day looks good for first rising then falling, but bullish profits are not advisable. It is recommended to take small defensive positions near the top pressure levels to short for a more prudent approach, and there is still a lot of space for the bottom at a larger level, with expectations that this week or next week may go to 3050-2850. Therefore, intra-day suggestions are primarily high positions, reference levels: 3380, 3460

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