1.2 Midnight Pancake and Ethereum Market Analysis.

1.1 Ethereum Thought Reference

Some friends asked me to talk about Ethereum. To be honest, with the current volatile market conditions, there isn't much to discuss. In this range of fluctuations, it's best to adopt a strategy of selling high and buying low, and set good stop-losses. If you really want me to elaborate, then let's look at the larger annual K-line chart where Ethereum is also moving in a volatile manner after the close, following the leader. Many friends are focusing on the support level around 3300. So, I'll also mention that from the four-hour chart, Ethereum saw a spike up to around 3450 yesterday and then began to pull back. On the one-hour chart of Ethereum, we can see the formation of an M double-top pattern. The upper pressure during the day can focus on the three points of 3370/3400/3430. Currently, the market is paying attention to where Ethereum might go if it breaks below the 3300 level. I'm not going to predict too far ahead; if it breaks, then the support at 3230 will definitely be tested. Currently, the four-hour Bollinger Bands for Ethereum are showing a parallel contraction state, and the MACD is trending downwards, close to the zero axis, indicating a potential death cross. As it stands, Ethereum should follow the leader with a selling strategy. One could consider selling between 3370-3390. If you're looking for a more stable situation, just observe the stability around the 3300 level before deciding.