Family, today Long Ge needs to have a good chat with everyone about the Ethereum market. We will analyze it clearly from several aspects: technical analysis, on-chain movements, institutional perspectives, and market sentiment.

Latest price: $3530.55, down 6.34% in the last 24 hours, fluctuating between $3480 and $3900 over the past week. Short-term support is at $3529, and resistance is at $3943.

The 24-hour trading volume is $41.34 billion, with price decline and volume increase indicating rising selling pressure. Whales have bought 63,000 ETH in the last 48 hours, spending $240 million, with an average price of $3820, currently showing a loss of over $10 million, which may trigger selling pressure. The Ethereum Foundation has transferred 1000 ETH for four consecutive days, suspected to be preparing for an upgrade or staking.

So how should we set the short-term strategy? I think there is an opportunity for a rebound in the range of $3440 to $3488, and everyone can try going long with a small position, but the stop loss must be set below $3400, don't be careless. If it rebounds to the $3800 to $3900 range, take the opportunity to reduce some positions at the high, securing profits feels more reassuring.

Finally, Long Ge will give everyone today's operational guidance. Consider shorting around $3530 to $3560, with target levels at $3485 to $3430. In the next couple of days, it may even drop to around $3395 to $3370. But still, I want to emphasize that the cryptocurrency market is very volatile, so investment decisions must be made with caution, don’t rush in just because you feel impulsive! #ETH