After a small V-shaped reversal, ETH has begun to see selling pressure at key positions, with clear resistance preventing upward movement, leading to high-level fluctuations.
At this position, the small scale does not consider chasing longs, as the risk-reward ratio is not proportional.
The 4-hour level is expected to pull back, with attention on the slightly larger support area around 3500-3550 for another retest.
If it follows the overall market and continues to weaken, keep an eye on the possibility of revisiting the daily level support near 3330.
For the bulls, there is a chance to continue seeing a rebound only if it remains above 3660. It will then test the pressure at 3750/3860.
Upper pressure: 3720/3750/3817/3876
Lower support: 3580/3540/3464/3430/3330
#ETH
