$ETH When the market takes a sharp downturn, accounts shrink, and fear spreads, that is the true test of mentality. Some panic and cut losses, falling before dawn; others calmly review and wait for the right opportunity. The market does not pity emotions; it only rewards rationality. A true trader is not someone who has no fear, but someone who knows how to remain clear-headed in the face of fear. Ethereum reached a peak of 3859 last night before falling back to a low of 3720; currently, the price is consolidating around 3760.
From a technical perspective, key resistance levels to watch are 3800-3820 and the previous highs of 3850-3860, while key support levels are 3720-3700 and 3650. The 4-hour MACD has formed a death cross, and the RSI has fallen back to the neutral zone at 52. If the price falls below the Bollinger Band midline of 3780 and cannot quickly recover, it may further decline. This evening, we need to be cautious of the volatility risk brought by the US PPI data, and it is recommended to strictly control positions. Overall, this pullback is a normal technical correction; as long as the 3700 level is maintained, the medium-term upward trend will continue.
Ethereum suggestion: In the short term, it is advisable to sell high and buy low in the 3760-3800 range. A breakout above 3800 would target 3850, while a drop below 3700 would test the 3650 support.
