Yesterday, the target for Ethereum was around 3650, which is a long-term setup by Lao Qi. Yesterday afternoon, I advised fans to short near 3860, and I was waiting for an opportunity. This morning, Ethereum retraced to around 3750, and the cautious fans exited nearby. Lao Qi kept watching the market until 8 AM, when Ethereum dropped to around 3630. Lao Qi decisively instructed fans to close their positions, and they directly gained 200 points. $ETH

Old Seven's Midday Analysis: $ETH

The market responded with a sharp spike at dawn. Currently, the direction indicates that Ethereum's trend is relatively strong, with the price dropping to around 3670 before quickly rebounding. The current trend has reached the key resistance zone between 3885-3900. Looking at the 1-hour level, the bulls have slowed down again in this area, the MACD indicator shows a decrease in bullish volume bars, and the KDJ three lines have all entered the 100 overbought position. One can still look for a pullback.

Old Seven's Trading Advice:

Short Ethereum around 3865, targeting around 3760.

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