Yesterday, while analyzing the ETH market outlook, the ABC three-wave adjustment corresponds to a 4H cycle. In the evening, it faced resistance at the 4670 level, and after oscillating downwards in the night session, the C wave reached a low of 4364, which aligns with the analysis expectation of 4330-4360. Now, when analyzing ETH, we need to consider the daily chart level. The daily high from 4794 to 4360 should belong to an A wave adjustment. The analytical approach is similar to the 4H chart, with two possibilities: First, based on the Fibonacci percentage calculation, measure the height of the B wave rebound, focusing on resistance levels: 4528, 4579, 4630. The rebound strength needs to be analyzed in conjunction with the specific patterns of the 4H and 2H small cycles and accompanying indicators, followed by a C wave adjustment, targeting an adjustment range of approximately 4160-4300. If the rebound strength is weak, the 4H has currently completed a three-wave adjustment. If it faces resistance at the 4520 level and continues to decline, it is highly likely that the A wave consists of five small waves, later transitioning into a 5-3-5 sawtooth adjustment, with targets potentially reaching 3600-3800 (subject to market specific analysis). Second, if the rebound reaches around 3794 or breaks through 3794 to 3830-3850, it will undergo a regular platform 3-3-5 adjustment or a 3-3-5 diffusion platform adjustment. If it follows a regular platform adjustment, the recent 4360 level may serve as minor support. If it follows a diffusion platform adjustment, based on the high point of 4830, the C wave adjustment target should be: 4830 - (4794 - 4164) * 1.618 = 4135, thus 4135 becomes our target level.
