Ethereum Morning Thoughts

The price of Ethereum has significantly dropped from its highs, showing a clear bearish dominance. Recently, the price has rapidly declined, and the bearish momentum has been somewhat released in the short term, with the price temporarily stabilizing around 4380. However, the overall market sentiment remains relatively pessimistic. Nevertheless, an oversold condition often contains the potential for a rebound, allowing us to formulate a bullish strategy while controlling risk, attempting to capture profits from the rebound.

Intraday Operations: Consider going long between 4300-4350, with targets set at 4500 and 4600.