On Monday, when discussing ETH, from the perspective of exchange rates, it broke out upwards from a high-level consolidation, starting last night to break through the previous high. Following this, ETH continues to make a push towards the 4000 mark, with a high probability of breaking above. In the short term, ETH is clearly stronger than BTC, and shorting temporarily does not yield good results; going long in line with the trend is more stable.
ETH reached the previous high near 3940 this morning and has been continuously consolidating in a narrow range. High position with reduced volume is consolidating instead of falling.
For those without low-position long positions, try not to chase long positions now; the profit and loss are relatively small.
If there is a pullback in the evening, pay attention to whether the two key supports at 3880/3750 can stabilize effectively. Then observe if the new round of bulls continues to push towards 4000.
There is no obvious top structure at the short-term high, and shorting remains purely left-sided, all about taking a bite and running, with no pattern at all.
Upper Pressure: 3980/4120
Lower Support: 3825/3780/3735/3661