Core watershed: 4345
This position is the core threshold for determining whether the night rebound can be initiated. Its stability directly decides the subsequent long and short logic.
1. Above the watershed (stable at 4345 for 1-2 hours)
- Rebound conditions are met, short-term bias towards release of bullish momentum, need to pay attention to the third-level pressure:
- First pressure: 4400 (near-term resistance, the first test point at the beginning of the rebound)
- Second resistance: 4467 (medium-term resistance, requires strong momentum to break through)
- Third resistance: 4521 (long-term resistance, key suppression point for rebound space)
2. Below the watershed (not stable at 4345)
- Rebound momentum is insufficient, short-term bias towards continuation of bears, need to pay attention to the fourth-level support:
- First support: 4272 (near-term support, immediate defense point for first dip)
- Second support: 4225 (medium-term support, secondary buffer level)
- Third support: 4161 (deep support, an important node for continuation of bears)
- Fourth support: 4110 (long-term support, extreme reference point for short-term decline)
Summary
- Core operation: Focus on the effectiveness of stability at 4345, this is the 'critical point' for the conversion between long and short.
- If stable, gradually look for rebound space based on pressure levels; if not stable, use support levels as a reference to be cautious of downward risks, short-term trends are completely dominated by the gains and losses of the watershed.$ETH #以太坊走势分析 
