On the previous trading day, Ethereum experienced a significant pullback. After reaching a new high of 3035 during the day, it continued to pull back, dropping to a low of 2868 in the evening before rebounding. In the late session, it once again continued the upward trend, testing the resistance near 2980 and now oscillating around 2940.

In recent days, the trend has been characterized by daytime pullbacks and evening rebounds. The long positions set up during the day yesterday finally paid off with a new wave of profits this morning.

Ethereum Market Analysis: Yesterday, after reaching a high near 3035, a rapid pullback occurred, forming a long lower shadow hammer candle. This morning, the rebound was suppressed near 2980, leading to a retest of the support around 2920. From a technical perspective, the MACD is showing a decreasing trend, and other technical indicators are also trending downward. If the overall market cannot successfully break through and stabilize above 3000, there is a tendency to pull back to the support below. Similarly, the daily level of the overall market also shows a downward trend. In two months, it will be time for the overall market to halve, and Ethereum is also facing a different trend. At this time, it is necessary to be cautious about the possibility of a short-term bearish trend before a major rally and to be cautious about chasing long positions at high levels.

4-hour internship: The recent market trend has shown significant volatility, facing the key level of 3000, and the struggle between long and short positions is intense. Last night, there was a rebound at the 0.5 Fibonacci retracement level, but it was suppressed in the morning near the 0.236 level, leading to another pullback and oscillation. From a technical perspective, several technical indicators are showing a downward trend, and the bullish trend is weakening. The current market is near the support of the 4-hour midline. If it falls below, there will be an opportunity to test the support near the rising trend line around 2885. Recently, the market has mainly revolved around daytime oscillations and declines, with significant rebounds only in the evening. If there are multiple unsuccessful attempts to break through 3000, the market may experience a significant pullback near 3000, so be cautious about chasing long positions.

Trading suggestion: Enter long positions near 2870-2890 on pullbacks, take profit at 2935-2975, and set a stop loss at 2850.

Reminder: The strategy is for reference only. Trade with proper stop-loss and take-profit measures. Set profit-taking targets in batches and use trailing stop-loss to protect profits while avoiding excessive profit loss.

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

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