Ethereum Market Analysis on January 8th

It's changed! It's changed! This wave of Ethereum is still being hit by the lack of stabilization at the resistance level, which is essentially a pump and dump (a slaughtering plate). Since this key resistance has not stabilized, from the perspective of the larger K-line structure, the wave C is confirmed to be an illusion. This market movement is a rapid selling after completing a short-term double bottom (it has basically been confirmed as a major level deep adjustment).

Now the first support at the low point we reference is at the previous round's starting point (around the 3300-3350 area). If the first support is effectively broken, the second support area is still referenced around the 3100-3000 area (details can be referenced in the accompanying diagram).

The above is the analysis idea for the subsequent large-level market, for your reference only.

A warm reminder to everyone to pay attention to the risks brought by large-level market changes.