ETH market outlook: Breakthrough encounters resistance, short-term correction may become the key, support level analysis!

🔥 Yesterday's market review

ETH price broke through this range of fluctuations after a correction in the range of 3560-3630 yesterday, rising to around 3675, but encountered certain selling pressure at this point. This position happens to be the intersection of two bearish reversal zones. In the short term, ETH may face certain fluctuations and adjustments.

🔍 Technical analysis:

Support level observation: First, we pay attention to whether ETH can stabilize the current fluctuation range. If the price does not fall below this range, it may usher in an opportunity for further rise. If it falls below this range, the next key support level is 3455 (Fib0.382), and continue to pay attention to the market reaction. If the downward pressure increases, it may test the support of the 3320-3391 (Fib0.618) range.

Wave theory analysis: Although the wave theory is not completely accurate in the trend of ETH, we can get some valuable references from it. At present, ETH has risen since 3310 and has completed five waves of rise, and may enter a short-term adjustment phase. If the adjustment is over, ETH is expected to continue to rise, with the target looking at around 3722. If this point is not broken, the market may usher in a correction.

Volume analysis: Although the price of ETH has risen slightly, the trading volume is still low, indicating that the market temporarily lacks strong upward momentum. The recovery of volume will be the key to confirming the upward trend.

📊 Potential reversal signal

If ETH falls back after the rebound, the 12-hour level trend may give a clearer signal. At present, ETH may form a bullish shark pattern, and the reversal range is between 2766-2910, which is worth paying attention to.

⚠️ Cat brother suggestion

Friends who operate in the short term should pay attention to the uncertainty of the current market. Although ETH has not yet shown an obvious top signal, the market is volatile. It is recommended to flexibly adjust positions in the appropriate profit range to avoid excessive exposure to risks.

💡 Warm reminder

The above content is for reference only, and investment should be cautious. The market fluctuates greatly. When making decisions, please make decisions based on your personal risk tolerance, do not blindly follow the trend, and be sure to do a good job of risk control. What do you think about ETH’s short-term trend? Feel free to share your views in the comments section!