8.6 Daily Ethereum Analysis
The daily chart shows a continuous rebound but is still constrained by a high volatility range. Yesterday's small bullish candle failed to sustain bullish momentum, and after an initial rise at the beginning of the week, there was a quick pullback, indicating a lack of continuity in the current market. The accompanying indicators maintain a death cross, and the structure has not changed, so the short-term focus remains on range consolidation.
From the hourly chart, last night's US market continued to decline, with a slight recovery appearing in the early morning. The current candlestick shows consecutive bullish candles but with insufficient volume. It is expected that short-term there is still some rebound momentum, with 3700 being a key resistance level above.
Trading Suggestions:
Consider trying a long position near 3590 with a light position, targeting 3650;
If there is a rebound above 3670, consider trying a short position, targeting 3605.
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