Looking again at the future trends of Ethereum.

Let’s first look at the monthly chart from large to small.

The monthly chart shows a large bullish candle. From the monthly perspective, after the bottom has completed a series of retracements confirming support, the market has broken through. It has been exactly 4 months from the bottom around 2300 to the current level of around 3700, with a large bullish candle closing at the monthly level. The overall closing price has an upward trend, and the bulls are undoubtedly in control. However, it is important to note that precisely because the price has risen too high, it has completely detached from the fundamental panel. The gap between the moving averages at different levels on the monthly chart is too large, and the market needs to correct.

Therefore, it is speculated that this month, which is December, will have significant fluctuations in both upward and downward positions. Simply put, it will go back and forth with spikes in both directions. It is basically unlikely to welcome a second significant rise followed by a stable market; it is more probable that there will be a spike after an increase followed by a sharp drop, or a spike after a decrease followed by a sharp rise.

Looking at the weekly chart, it shows a large bullish candle without a top signal, so there is a high probability of at least one more high point being tested this week. Pay attention to the resistance levels at 3900 and 4100, looking for a spike followed by a drop.

As for the daily chart, there isn’t much that needs attention. The daily chart has shown a relatively weak overall closing in the past few days, and there is no明显的顶点趋势 during the upward fluctuations.

In summary: Ethereum overall is still bullish, but be cautious of the possibility of a pin bar pattern appearing within the week or the month. It leans towards going up first and then down. The resistance levels to watch are 3900 and 4100, while the support levels to watch are 3350-3450 and 3100.

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