Ethereum (#ETH🔥🔥🔥🔥 ) price analysis:

1. Recent trend

After the Ethereum price surged to $3,200 last night, it was under pressure and pulled back. The current minimum has reached $3,031. From the K-line pattern, the price fluctuates frequently in the range of $3,300 to $3,000, and the upper shadow line appears many times, showing the repeated consolidation of the market.

2. Technical indicator analysis

According to the MACD indicator, both DIF and DEA are currently negative, but there are signs of convergence, suggesting that this wave of adjustments may be nearing its end. Once the adjustment is completed and the bottom structure is formed, Ethereum may usher in a new round of increases.

3. Large-scale trend

From the large-scale chart, the current upward trend is still not over, and the price may continue to rise. Therefore, we need to remain vigilant and focus on whether the previous large negative line support level can be effectively maintained. This will be an important basis for judging the future market trend.

4. Operation suggestions

If the price falls back to the 3030-3050 range, you can consider entering a long order, with the target price around $3,200. You will need to make flexible adjustments based on market reactions.