Ethereum Today's Analysis
Ethereum formed a small bearish candle in the last 24 hours, dropping to 3616 and immediately bouncing back, creating a pin bar phenomenon, indicating a test of funds below.
The most important level currently remains at 3656; according to Fibonacci data, if 3656 can be broken and held, this will be a key point. The focus will likely remain on short positions until August, potentially continuing below 3500. Market sentiment is weakening, shifting towards altcoins, especially new coins.
If Ethereum can regain its footing above 3750, this will provide crucial support for the subsequent upward phase. Everyone should pay attention to this range for planning.
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