Market Review:

As of this week, Ethereum has experienced a wide-ranging oscillation, fluctuating between the 3800 and 4100 range, with little to no clear trend emerging. Each time it approaches a breakout point, there tends to be a rapid reversal that prevents the market from breaking through. Those with some trading experience know that such extreme oscillating markets can be both torturous and opportunistic, as a significant trend often follows extreme fluctuations.

Market Analysis:

From the hourly chart of Ethereum, after breaking through the downward resistance line, the market has been oscillating while also retracing. This type of movement, where the breakout does not continue, tests one's mindset and can be quite torturous. I believe many traders have been stopped out on both sides during these days of oscillation. In my view, this situation is normal; there is always a period of darkness before the light appears, which is unavoidable.

From the monthly chart of Ethereum, after breaking the previous M-top, it has shown an upward continuation, and is currently undergoing a retracement confirmation. After two consecutive months of pulling back to this position and finding support, I believe Ethereum has not entered a bearish trend. The next focus should be on whether the rebound after the retracement can successfully push upward to determine if the market will completely shift into a bearish phase.

Therefore, for the upcoming Ethereum, I personally remain optimistic about continued upward movement. Whether this will be a continuation of the bullish trend or the bears starting to dominate will depend on the situation around the 4250 level. If the breakout continues to push upward towards historical highs but faces downward pressure, then it will be a complete celebration for the bears.

Of course, the above views are just my personal opinions and should not be taken as trading advice. Please approach with caution.

Author's Note:

There are no absolute rights or wrongs in trading; analysis is merely a prediction made in advance. The key lies in finding real-time opportunities based on market changes. Everyone's perspective cannot be the same. If you have your own judgment, please trust it; if you choose to follow someone, then follow through to the end. This is just personal advice and is for reference only.

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