Ethereum continued yesterday's upward trend. After a strong bullish K-line yesterday, the pullback was relatively limited,
During the lunch break, Ethereum surged to a high of 2491 before starting to gradually decline.
From yesterday's overall market analysis, the upward space is significantly greater than the pullback space, showing typical characteristics of a strong bull market with rapid rises and slow adjustments.
Only in the closing phase did the price show a certain degree of pullback, which served to some extent to clear long positions' profits.
Ethereum overnight reached a high of 2387 before starting to retrace, currently touching a low of 2268, with the current price oscillating around the 2340 level.
Currently, Ethereum's short-term trend is quite tense, and its trend characteristics continue to follow the previous pattern of breaking highs and then retracing. This seemingly hesitant movement is essentially preparing for a significant upward surge in the future.
From a technical structure analysis, the current pullback trend does not break the already completed bottoming-up structure. From a morphological perspective, the current pullback can still be defined as a process of seeking support.
Based on the above analysis, the subsequent operational strategy is quite clear. Investors should lay out long positions around the current short-term support level, maintain a bullish outlook, avoid blindly following the crowd, and not be swayed by short-term market fluctuations.