Ethereum rebounded again on the last trading day, with a hope to return to the 3505 level. In the late session, the market started to rise near 3428 after a pullback, and in the early morning, it reached a high of 3670. The current market is oscillating around 3600.

Yesterday, Changlu provided a market analysis indicating a rebound in the market and the emergence of a head and shoulders pattern. It suggested entering long positions if the price did not fall below 3420 and provided a real-time strategy to enter short positions near 3475 with a take-profit at around 3435, as well as a strategy to enter long positions near 3425. Those who followed the operations, both long and short, have gained. As the market changes rapidly, it is important to use stop-loss orders when trading.

Ethereum Market Analysis: After the market formed a bullish candle two days ago, it showed a bearish trend with the formation of an evening star pattern yesterday. The recent uptrend directly reached the resistance near the daily middle rail. Many people have the expectation that after the market pulls back near 3050, it will test the low point near 3050 again. However, it is important to pay attention to the trend of technical indicators when trading. The MACD is shrinking, and other technical indicators are also showing upward trends. Therefore, Changlu has been reminding everyone of the rebound trend at the daily level in the past few days. It is important to observe the market trend rather than relying on personal assumptions. From today's trend perspective, the daily level touched the middle rail and fell under pressure, showing a trend of oscillation and pullback. It is possible that the market may fail to break through the middle rail and pull back, with resistance near 3670 and support near the 5-day moving average of 3520.

On the 4-hour chart, after the market formed five waves and rebounded near 3050, it formed an ABC three-wave rebound, challenging the resistance near 3700, which is the Fibonacci retracement level of 0.618. It is worth noting that this rebound did not break through the previous neckline position of 3685. If the market can successfully rebound higher than this level, there is a chance to form a head and shoulders pattern, leading to a further rebound to higher levels. As the halving of Bitcoin is approaching, the market trend will become more volatile and may change more rapidly, so it is important to use stop-loss orders. Today, Changlu suggests observing the rebound first. If it fails to break through the high points near 3630-3665, short positions can be entered with a stop-loss. If it breaks through 3700, a stop-loss is needed, and attention should be paid to the support near 3565 below, considering entering long positions if it does not break.

Operational Suggestions: Real-time strategies provided

For more strategies, follow Changlu's Weibo @长路财经

Reminder: The strategies are for reference only. Trade with proper stop-loss and take-profit orders, and consider taking profits in batches and using trailing stop-loss orders to protect profits while avoiding excessive profit loss.

The cryptocurrency market is always in full swing. Everyone's common wish is to seize the opportunity and get a share. Please believe that "the only thing missing between you and financial freedom is a long road." With Changlu's guidance, you will surely achieve your cryptocurrency wealth dream faster and more steadily.

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