Can Ethereum break new highs?
Ethereum plummeted nearly 200 points to a low of 3616 from early morning to afternoon, then rebounded and is currently fluctuating around 3690. I personally have a clear bearish view on the current trend—the 3700 round number has formed a significant resistance zone, and multiple attempts to break through have failed.
From the technical perspective of the one-hour cycle, the middle track resistance level has moved up to the 3730 area, and if there’s an unexpected breakthrough, it may briefly impact 3800, but judging by the current volume, the probability is extremely low.
Recommended trading strategy: decisively short in the 3710-3740 range, with the first target at the support level of 3650 and the second target aimed at around 3580.
Current market sentiment is bearish, and the operators are clearly trying to entice buying in the pressure zone; do not chase the rise.
My view is very clear: short-term rebounds are just opportunities for short positions to enter, strictly execute phased entries and keep stop-losses, this wave of decline can at least see the 3500 range.
Recently, I have prepared a plan for a margin trade; brothers who haven't followed yet should seize the opportunity!!
Today’s focus: pengu cfx sol xrp pepe
