Brothers, I am Morning Brother, let’s talk about the latest market dynamics of the second pancake.

The current price is around 4245, down 4.71% in 24 hours, with a low of 4228, having broken the key support level of 4230. It has fallen for three consecutive days on the daily chart, the 4-hour chart is approaching the previous low of 4300, the MACD is still in a death cross, with bears in control, but the RSI has reached the oversold zone, so there might be a slight rebound.

Technically, there are a few key points to watch: on the support side, 4300 is a dense area on-chain, followed by the psychological level of 4250; if it can’t hold, then watch the bull market trend line at 4000. On the resistance side, 4500 is pressured by EMA200, a breakout at 4620 would indicate a reversal, with the previous high of 4800 being the big target.

On the funding side, pay attention: a certain whale staked 10,000 second pancakes and made 20.68 million, which was then transferred to the exchange for cashing out; the proportion of short positions in derivatives is 65%, with shorts piling up above 4500. On the institutional side, BlackRock's ETF has had net inflows for two consecutive days, but the strength hasn't reached a strong accumulation level.

Finally, regarding Morning Brother's operating strategy, I suggest going long near 4230, targeting 4290 first, and if it breaks, then looking at 4370. Remember to set a good stop-loss, as the market is volatile, don’t be careless. #eth