$ETH 4270 This position is indeed very critical; it is essentially the extreme support level for short-term adjustments. If this position cannot hold, the market is likely to further test the 4000 level.

From a technical perspective:

4270 is an important support level for short-term adjustments. If it breaks, the next key support level will be 4000.

4000 is an important psychological level and technical support level. If a solid bearish candle closes below 4000, the technical pattern will be damaged.

The ideal situation is for the adjustment to come near 4000; a slight breach below 4000 followed by a quick rebound is also acceptable, but it must be a spike rather than a solid bearish candle.

The ETH/BTC exchange rate has also reached a critical support level, and this price relationship is worth close attention.

Currently, institutional quantitative trading shows a dominance of short positions, indicating that large funds are cautious about the short-term trend.

My view:

I hope the market can stop falling and stabilize around 4270.

An adjustment to around 4000 would be a good opportunity.

However, it is essential to closely monitor the gains and losses at the 4000 level, and it must not effectively break below.

The support situation of the ETH/BTC exchange rate also needs to be observed simultaneously.

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