#ETH

The trend of Ether is weaker today, and the pie continues to break new highs.

Ether barely broke through 4000, then began to fall, and is currently oscillating below 4000.

But there is still no short structure at present, it is just a step back,

In terms of thinking, we still maintain the idea of ​​​​buying low. The market must fall below 3830 before there is a possibility of reversal.

It is currently running below 4000, indicating that the short-term market is weakening.

In line with our expectations, after the Cancun upgrade is implemented, the hype of this narrative will end.

The market's focus will return to the big pie, which will result in a situation where the rise is not as good as the big pie, and the fall is greater than the big pie.

Regarding the expectations for the market outlook, the focus is still on whether it can stabilize at 4000. Only when it stabilizes at 4000 can it be possible to continue to new highs.

In terms of exchange rates, the decline has not stopped yet, because there is no new narrative in the Ethereum sector in the short term.

It is difficult to have an independent market in the future. The following will focus on the support near 0.053.

After hitting support, we can try to go long on the exchange rate to see if there is a chance for a rebound.

The exchange rate has support below 0.053 and resistance above 0.060.

In terms of form, focus on the 3830 point. If it falls below 3830, then the M top structure will be established.

A wave of decline may begin in the short term. Before falling below this point, we will still view it as a correction.

In terms of operation, we mainly focus on low and long positions.

In terms of operation, continue to pay attention to the low and long range 3850-3880 below. If this area can stabilize or rebound,

You can try to go low and go long. If the upper level can keep oscillating above 4000, you can also go long with the trend.

There is still no short structure, so don’t be too bearish.