On the previous trading day, Ethereum fluctuated upwards during the day, reaching a high near 3620 in the morning session before retracing. After testing the support line near 3535 in the evening, it failed to break through the previous high near 3670 and quickly rebounded from the low point of 3495, then began to decline. In the early morning, it dropped to around 3460 before rebounding, and the current market is oscillating near 3500.

Yesterday, Changlu predicted in the article that there would be a retracement in the market and suggested entering short positions before the rebound. Attention was directed to the support near 3550, and in real-time strategy, it was suggested that there would be a rebound from 3535. Indeed, the market followed the perfect trend predicted by Changlu. Later, the rebound high also allowed those who entered to defend their short positions. Congratulations to friends who followed Changlu's operations.

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Ethereum Market Analysis: Yesterday, the market rebounded from the needle rebound, failed at the daily middle track position, and retraced to form a bearish candle. From a technical indicator perspective, there is a downward trend. If it falls below the support of the lower moving average, the market will continue to retrace to the support near the weekly 5-day moving average of 3445. If it breaks through, it will continue to look down. On the weekly chart, the technical indicators have not changed, still dominated by a bearish arrangement. It is still necessary to pay attention to the trend and closing situation of this week's market. The daily chart failed to break through the pressure of the middle track four times, showing a trend of three attempts to peak, indicating that the bearish trend still exists.

On the 4-hour chart, after rebounding from around 3050, the market formed an ABC three-wave rebound structure, retracing under the pressure of the Fibonacci retracement line at 0.618, and did not break through the previous neckline position high of 3682. The desired head and shoulders bottom trend did not form in the third wave, and yesterday's retracement indicated the formation of the fourth wave. If the market can form an extended wave today, attention should be paid to the support of the rising trend below. If it breaks through, it will continue to retrace to the support near the 4-hour Bollinger Band lower rail of around 3420. If it fails to form an extended wave, attention can be paid to whether the rebound of the fifth wave can break through the high point of the third wave. Otherwise, it will continue to retrace. Today, Changlu recommends observing the retracement first. Pay attention to the support near the 1-hour chart lower rail of 3460. The Bollinger Band on the 4-hour chart is narrowing, indicating that the market will oscillate and consolidate.

Operation Suggestions: Real-time strategy provided

Reminder: The strategy is for reference only. Operate with proper stop-loss and take-profit measures. Set profit-taking targets and implement trailing stop-loss to protect profits and avoid excessive profit retraction.

The cryptocurrency market is always in full swing. It is everyone's common desire to seize the opportunity and get a share. Please believe that "you are only one long road away from financial freedom." With the guidance of Changlu, you will definitely achieve your cryptocurrency wealth dream faster and more steadily.

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