Brothers, today Long Ge will talk with everyone about the trend of ETH, analyzing from multiple dimensions including technical aspects, capital flow, and on-chain activities for your trading reference.

First, let's look at market dynamics and technical aspects. The current price is 4160, down 2.39% intra-day, having briefly dropped below 4100 to 4091. From a technical perspective, there are three consecutive bearish candles on the daily chart, while the 4-hour level is being pressured by the EMA120 moving average (around 4250). Trading volume is still decreasing, and the RSI (14) has dropped to 45, which is the neutral zone, showing no signs of a bullish divergence. The short-term outlook is likely to be a bearish consolidation.

Key levels to remember: resistance levels are first at 4300 (previous high pressure), then up to 4350 (bearish concentration zone), and further to 4500 (psychological level). In terms of support, 4150 is the Fibonacci 50% position, but more importantly, the 4000-4100 range is the institutional cost zone, as well as a place where whales have heavily bought in, providing solid support.

Now, let's talk about potential bullish factors. Whales are accumulating at low levels, with wallets holding 10,000-100,000 ETH now holding a total of 16.793 million ETH, accounting for 46.3% of the total circulation. Furthermore, there has been a net outflow of 540 million ETH from exchanges in a single day, the largest net withdrawal since April, which is clearly a long-term bullish signal. In terms of valuation, the MVRV Z-score indicates that ETH is currently in a historically undervalued range, similar to the bottom in late August 2022. According to Metcalfe's Law, the fair value is estimated to be between 4500-5000.

Long Ge's trading suggestion for today: You can go long if it pulls back to around 4130-4090, with a target of 4200-4300. The strategy is effective, but specific execution should follow the market closely, for reference only. #ETH