$ETH Evening Thoughts:
The second pancake is now out of control; it has to surge. The second pancake exchange rate is dragging it up. Look at the second pancake exchange rate: it has pulled up two consecutive daily bullish candles with volume and price. The Fibonacci 1:1 upward target for the second pancake daily exchange rate has already been set.
If the second pancake exchange rate can break through 0.02992, it will continue to challenge 0.03250-0.03355, and the second pancake will maintain a strong stance. Currently, the big pancake's pullback is not really affecting the second pancake; as soon as the big pancake rebounds, the second pancake will surge upwards. The second pancake can only come down when the exchange rate softens.
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For the second pancake, a volume breakout above 3474 is a bold buy on the right side, while a volume drop below 3443 is a sell on the right side. Pay attention to changes in volume and set good stop-losses.
The hourly level for the second pancake shows that if it breaks and stabilizes above 3479, it looks up to 3505-3558. If it stabilizes at 3505, 3558 will come soon.
On the 4-hour level, a drop below 3402 looks down to 3344-3312.
Continuing to look at the chart: the position circled in white at the second pancake daily level has successfully replicated a 1:1 trend. Currently, only half of the journey has been completed; there is still half to go. As long as the daily closing price of the second pancake can close above 3558, 4000 will come quickly, or even higher.
However, there is a prerequisite: the market must maintain its current state and not have any negative news. The second pancake is also facing a risk point; look at the position circled in yellow at the bottom right: the daily RSI has shown overbought conditions. Overbought does not mean a drop will happen immediately. If the second pancake is to pull back, it might drop to around 3212.
I hope everyone does not get blinded by the violent surge of the second pancake and forget about the risks. Please remember that if the second pancake can rise by 300 dollars, it can also fall by 600 dollars. Always maintain a clear mind. Meeting adjourned.