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6.12 Market Overview: ETH Head and Shoulders

ETH has formed a head and shoulders pattern, with 2728 currently providing temporary support. Based on the head and shoulders 1:1 retracement, Ethereum still has potential for a pullback, with the next support likely around 2664.

If Ethereum retraces to 2728 and breaks below, enter short positions following the bearish trend, with a stop loss at 2771 and targets at 2664 and 2610; conversely, if it tests 2728 multiple times without breaking or pulls back above after a drop, enter long positions, with stop losses set at the break point, targeting 2271 and moving the stop loss to 2829; for low long positions, set up near 2664 with a stop loss at 2610, targeting 2728 and 2771.

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