The large pancake did not experience significant fluctuations at noon. After hitting a low of 103409 during the lunch break, it saw a slight increase. When it approached the 104000 mark, it faced pressure, followed by a pullback. Overall, the bearish sentiment is evident, and neither bulls nor bears can establish a strong one-sided trend. On the 4-hour chart, the large pancake continues to operate within a box structure, making it challenging to break this structure in the short term. Currently, it is oscillating around 103700. On the hourly chart, a double top structure is forming. After peaking in the early morning, the large pancake has been declining until stabilizing around 103400. There have been two doji candlesticks on the hourly chart, with lower shadows longer than upper shadows, indicating that bulls are accumulating momentum, waiting for an opportunity to surge. In the afternoon, we can continue to maintain our bullish outlook, focusing on the gains and losses at the 105000 mark above, while monitoring the support strength at 103000 below. It's important to identify the right entry points, and if a breakout occurs, we will respond accordingly with the current market situation.

In the afternoon, the large pancake can be bought between 102800-103200, with a target around 104600. Ethereum can be bought between 2600-2620, with a target around 2700.