On the early morning of the previous trading day, a rebound on Ethereum surged to around 3400 before falling back to 3345 and rebounding again. The market fluctuated during the day and retested the support near 3365 in the evening. Just now, it surged to a high of 3460 and then retraced, with the current market price hovering around 3430.

Yesterday, Changlu provided a strategy in the article, suggesting to long on the retracement without breaking the resistance near 3460, and to consider entering short positions. In the evening, it suggested to look for support near 3365 and consider entering long positions if it doesn't break. For those who followed the operation, long positions can hold for a wave of profit.

Ethereum market analysis: Last week, the market retraced and found support near the 10-day moving average, resulting in a rebound and a long lower shadow candle. This morning, the rebound was suppressed by the 5-day moving average and did not break through smoothly. From the weekly perspective, technical indicators still show a downward trend, with RSI showing a slight turning trend. As the halving of Bitcoin is less than 10 days away, the continuous rebound on the daily chart in the morning attempted to challenge the resistance near the daily middle rail. It can be seen that the daily middle rail still has certain resistance. If it can successfully break through and stabilize near the resistance of 3465, the overall market will still have a rebound trend, and the halving of Bitcoin can also bring some positive news.

On the 4-hour chart, the market rebounded after multiple retracements near the support around 3200, forming a W-shaped trend, and was suppressed near the lower edge of the previous dense trading area around 3460. In the morning, the market retraced, finding support near 3430, which is the 0.5 Fibonacci retracement level. The market started to fluctuate, but from the technical indicators, both the R value and K value are in the overbought zone, and the MACD also shows a shrinking trend. In the day session, it is advisable to watch for retracement, and focus on the support near 3400 and the 0.382 Fibonacci retracement level near 3380. Today, the main focus is on breaking through the daily middle rail. If it breaks through, Ethereum will welcome the halving of Bitcoin in a rebounding posture.

Operational suggestions: Real-time strategies are provided.

For more strategies, you can follow Changlu's Weibo @长路财经.

Reminder: The strategy is for reference only. Operate with proper stop-loss and take-profit measures. Set profit-taking targets in batches and use trailing stop-loss to protect profits while avoiding excessive profit loss.

The cryptocurrency market is always in full swing. It is everyone's common wish to seize the opportunity and get a share. Please believe that "the only thing missing between you and financial freedom is a long road." With the guidance of Changlu, you will surely achieve your cryptocurrency wealth dream faster and more steadily.

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