ETH also showed a downward trend from highs yesterday, with the daily chart depicting a barren line with a significant upper shadow line. Although yesterday's closing pattern was an inverted hammer, this was more of a signal of a short-term market adjustment than a clear sign of a trend change. It is worth noting that yesterday’s correction has touched the first support level we previously recommended at $3,380. For investors who already hold ETH, we recommend continuing to wait and see.
In terms of target price, we are still optimistic that ETH can reach $3,800. Of course, it can be adjusted to $3,750 based on actual conditions. As in the past, every pullback in ETH’s short-term correction is a potential buying opportunity.
In market exchange rate movements, although the process may be long and challenging, this is a normal stage that the market needs to go through when facing an important turning point. We call on investors to continue to pay attention to market dynamics and keenly seize every trading opportunity.