The concubine reached a low point around 3350 yesterday, and has rebounded to the latest price around 3550 today, having stabilized above the 3500 threshold. In terms of market drivers, after the Pectra upgrade, the Layer 2 ecosystem is expanding, but the decline in short-term transaction fee income is suppressing prices. Ethereum ETFs have seen continuous net inflows (with a net inflow of 8,183 ETH on August 1), and institutional preference has shifted towards ETH.

From a technical perspective, the MACD on the 4-hour level remains below the zero axis, with bears in control, but a golden cross is still forming below, and the candlestick has broken through the middle line of the Bollinger Bands, indicating the possibility of further retracement. On-chain data shows that ETH staking volume has reached new highs, DeFi activity is warming up, but there is short-term resistance at 3550-3600 dollars.

The first support level is at 3400 dollars, the second support level is at 3350 dollars, and the third support level is at 3250 dollars. The first resistance level is at 3600 dollars, the second resistance level is at 3700 dollars, and the third resistance level is at 3850 dollars.

Suggested range for long positions: If it stabilizes around 3350 dollars, consider accumulating heavily, with a stop loss at 3450 dollars and a target of 3600 dollars.

Suggested range for short positions: If it rebounds to 3360 dollars and faces pressure without forming an effective breakout, consider shorting to 3520 dollars, with a stop loss at 3630 dollars.

The concubine is also in a phase of consolidation and recovery, and needs to break through 3550 dollars to confirm the continuation of the rebound. It is recommended to primarily focus on high shorts and low longs, with strict stop losses, and to pay close attention to the relative strength opportunities of the concubine, while being cautious of short-term liquidity risks and policy disruptions.