The pancake has recently maintained a narrow range of fluctuations, with market sentiment cautious and the long-short forces in a stalemate. The overall industry is relatively calm, and market attention is mainly focused on the short-term price fluctuations of the pancake. Price fluctuations are frequent but not large, reflecting a lower risk appetite in the market.

KI pattern: The dark cloud cover has recently appeared, suggesting a possible downward movement may materialize. It hints at a potential form reversal, but a confirmed trend is needed. TD shows a 9, indicating the possibility of a reversal building a bottom pillar. Currently, the weak rebound has not significantly turned strong, and the rebound strength may reach a range of 114300-116500.

EMA averages (MA7 and MA30) continue to decline, with weak rebound strength, and the overall trend remains bearish.

The pancake range is 114500-115000, with a target of breaking 112676-112000, looking at 111000 but the rebound strength needs to be noted.

Auntie range is 3550-3600, with a target of breaking 3428-3400, looking at 3350 but the rebound strength needs to be noted.