Yesterday, Ethereum experienced a significant pullback along with Bitcoin's retracement. From the four-hour perspective, Ethereum's four-hour low retraced to around $3100, and then quickly rebounded to around $3500.

In the short term, the upper resistance for Ethereum will be around $3800, while the strong support levels are at $3200 and $3000. I have repeatedly emphasized that the $2800 level is a strong support for Ethereum; as long as this level is not strongly breached, the bullish trend for Ethereum will continue to extend.

From the daily perspective, Ethereum's daily chart shows a small bullish candle with a lower shadow, indicating that major institutions are also wary of retail investors competing for chips at low levels.

In the near future, Ethereum will primarily fluctuate within a range, between $3200 and $3500, and between $3500 and $3800. Therefore, the $3500 level will be the dividing line for Ethereum's strength and weakness. #加密市场反弹