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Ethereum is proceeding as expected. As predicted yesterday, it has dropped from 2755 down to 2613 this morning, a decline of 140u, with the 2600 level holding strong.

This drop mainly cleans out the positions of those who chased the rally in the past two days, but everything is within expectations!

Bitcoin's round top directly plummeted, dragging down many altcoins along with Ethereum.

Today's outline:

Ethereum is currently hovering around 2640, and the 4-hour level seems not yet completed. The market opened down sharply at 8 AM, with a strong downward momentum and volume. Today we need to pay attention to the 2600 level, so we can consider opening a long position near the current price of 2638 (while controlling against liquidation). Next, we will still wait for a 2-4 hour level stabilization before considering going long. One thing to note is that there are signs of a pullback on the daily level! Caution is needed to drive safely, avoid speeding and reckless driving, and strive to be a law-abiding good citizen.

The information or opinions expressed are for reference only and do not constitute specific investment advice or operational guidance for anyone.