As of now, the market has transitioned from bearish to bullish, rebounding to around 87500. The trend of Ethereum is exactly the opposite of Bitcoin; after a surge yesterday afternoon, the market has been continuously correcting throughout the day, with the coin price hitting a low of 1560 last night. From midnight until now, the coin price has mainly been oscillating around the lower levels. The long position we set up at midnight yesterday exited with a gain of over 780 points in the early hours.

From the technical structure on the four-hour chart, the Bollinger Bands are running parallel and converging. After the coin price surged and then retreated, there hasn't been any significant change in its pattern. The coin price is still stabilizing and oscillating above the middle band of the Bollinger Bands. The MACD indicator is running above the zero line with dual lines, and the moving averages show a relatively flat trend. The short-term cycle maintains an oscillating trend. In terms of operations, it is recommended to maintain a bullish stance as long as the range is not broken, focusing on low buys in the morning.