Unfortunately, I fell asleep, boo hoo!

Ethereum Market Analysis Reference on January 1st:

It's 2025, and I wish everyone a Happy New Year! In 2025, I hope everyone can achieve stable profits. 2024 has passed, and we firmly believe that each year will be better than the last.

After a round of ups and downs, Ethereum retraced after hitting the 3450-3460 resistance level last night. Unfortunately, I fell asleep and missed this big opportunity. For those who saw the short position suggestion during the day, they should have taken advantage of the retracement.
When trading, go with the trend—if the overall direction is bullish, look for opportunities to go long in the smaller timeframe; if the overall direction turns bearish, look for opportunities to go short. Don’t chase highs at the peak or lows at the bottom.

In the early morning, pay close attention to 3393 and 3380. If the price retraces and does not break below this level in the 1-4 hour timeframe, look for a range-bound trend. If it breaks below 3380, then watch for a retracement at the 1-hour level, and pay attention to important support levels and smaller support. If short-term bullish stability is observed, look for opportunities around 3350-3360; if it breaks below, abandon that idea. Major support remains around 3320 and 3230-3218.
Important resistance levels to watch are around 3460-3500-3530.

Technical Indicator Analysis

- MACD: No obvious trend; the MACD histogram has turned negative, indicating that the bears are starting to gain strength.
- KDJ: No KDJ golden cross or death cross; KDJ value is 79, in a neutral state, but relatively high, showing a balanced force between bulls and bears in the short term, although bears have a certain potential advantage.
- Volume-Price Relationship: Recent trading volume has decreased, with both price and volume declining, indicating a quiet market and low trading activity, weakening upward momentum.
- K-line Pattern: The 4-hour K-line shows a large bullish candle followed by a bearish candle, indicating that prices have experienced some volatility in the short term. After the bulls pushed prices up earlier, the bears began to exert pressure, causing a retracement in price.

Forecast Analysis

Overall, Ethereum is currently in a range-bound situation with some downside pressure. In the short term, if the MACD histogram continues to maintain negative values and the J value in the KDJ indicator continues to decline while volume continues to shrink, the price may continue to drop, with support around 3316.0. If the price breaks below this support level, it may seek further support near the 3300 long-stop loss point. If the volume gradually increases near the current price level and there are signs of warming in the MACD histogram, along with a golden cross in the KDJ indicator, then the price may rebound upwards, with resistance around 3436-3455.