Monday ETH Morning Market
The current price of ETH fluctuates around $3,400-$3,550, with key support at $3,350-$3,400 and resistance at $3,550-$3,600. If the support is broken, it may test $3,200; if the resistance is broken, it may aim for $3,800.
Short Position Opportunity: If there is resistance when rebounding to the $3,500-$3,550 range, a light short position can be taken with a stop loss set above $3,600, targeting $3,350-$3,200.
Long Position Opportunity: Aggressive traders can try to go long after stabilization near $3,350 (position ≤ 15%), with a stop loss below $3,280, targeting $3,450-$3,600; if it breaks $3,600 with volume, they can chase long positions up to $3,800.
Pay attention to the policy direction of the Federal Reserve in August and the progress of ETH ETF approvals; delays may suppress prices.
Currently, ETH is in a short-term adjustment phase, with a bearish technical outlook, but on-chain data and fundamentals support a bullish logic in the medium to long term.
Short-term: Sell high and buy low, closely monitor the support at $3,350 and the resistance break at $3,550.
Long-term: Use pullbacks to position in the spot market, focusing on regulation, institutional fund inflows, and technological upgrades. $BTC
