Originally expected Ethereum to follow the lead, but unexpectedly it has been ahead of the leader. It couldn't rise as much as the leader, but it has fallen harder than the leader. Does this count as regaining some face?
The daily chart's large bearish candle has once again temporarily pushed the price below $3400. It has currently rebounded back to around 3406, with the price closing below the daily MA30 line. The good daily uptrend has been broken. In the next three days, if the price cannot return above the MA30 line, it will lead to a longer period of adjustment.
There will be a rebound today, with a target around 3465, then it will continue to decline and look for support before making another rebound.
I remain optimistic about Ethereum's performance in the long term. As long as the bull market continues, Ethereum still has good upside expectations.
The short-term candlestick patterns have become a bit chaotic; we can only watch and see.
Daily resistance levels are 3520-3825-3980-4200, and support levels are 3320-3200-3110.
The hourly trend is currently showing a 5-10 minute pullback.
Short positions can be made at 3460, 3525, and 3580; long positions can be made at 3320 and 3270.
From the Ethereum liquidation heatmap data, we can see that last night's drop liquidated a large number of long positions.
Price is rising, with a large number of large and extra-large short positions waiting for liquidation in the 3496-3596 and 3652-3824 areas.
Price drop, there are still some long positions waiting for liquidation in the 3348-3308 area
