Ethereum has started to move sideways again!
Current level 4280-4275 is continuing to consolidate, with both bulls and bears gathering strength.
Key support: 4220
Core resistance: 4300 → 4335 → 4370
Short-term trading strategy:
If it rebounds to the 4300-4335 area and faces resistance, consider a light short position, targeting 4240-4220, with a stop loss at 4360.
If it directly breaks below the 4220 support, you can follow the trend and go short, targeting the 4160-4100 area.
Bulls need to wait for a volume breakout above 4370 and establish stability to confirm the continuation of the rebound.
Note:
Recently, ETH volatility has increased, so be sure to control your position and set stop losses!
Yesterday, there was a net inflow of $287 million into the US Ethereum ETF, which may provide potential support, but until the technical levels break, treat it as a consolidation.
Tonight's focus:
Can it break below the 4220 support, or will it break above the 4300 resistance? The choice of direction is imminent!
