Everyone, let's take a moment to review the key information regarding Ethereum's recent performance, and then discuss our operational strategies.

First, looking at on-chain dynamics, there are a number of positive signals worth noting: Exchange reserves continue to decline, with Binance reducing its holdings by 300,000 ETH since April, bringing its total reserves down to 18.9 million. This suggests a preference for long-term holdings, and a reduction in centralized selling pressure. Whales and institutions are also taking action. In the past 24 hours, large funds have increased their holdings by over 60,000 ETH at an average price of 3,640. Furthermore, with ETH 2.0's stake exceeding 40.1 million, the 4.8% annualized return is attracting long-term capital. All of this lays a solid foundation for medium-term trends. However, there are some short-term concerns. For example, two long-dormant addresses deposited 3,500 ETH into exchanges, potentially leading to short-term profit-taking pressure.

Technically, the current price of 3620 is in the middle of a range. While the MACD golden cross has formed on the 4-hour chart, volume is currently insufficient. The upper Bollinger Band at 3640 has yet to hold steady, and some platforms are even experiencing volume-price divergence. Further confirmation of upward momentum is needed. The resistance level of 3665 is a cluster of previous highs, making a breakthrough challenging. The support level of 3370 is a key psychological barrier.

Finally, considering these factors, shorting in the 3630-3640 range is advisable, with targets targeting 3580-3560. Of course, the market is always changing rapidly, so please carefully manage your risk, avoid over-holding or carrying large orders, and set reasonable stop-loss orders to better navigate volatility. #eth