Ethereum ETH trend review and analysis follow-up: →♥

Weekly perspective: remains unchanged, still in a weekly oversold rebound phase, which is our plan to buy the dip from 2640 to 2750 during the rally. The first take-profit level is approaching around 3500. However, if the longer-term cycle still holds this medium- to long-term long position, do not be too hesitant; if there's not much difference, you must reduce your position.

Daily perspective: On the daily chart, the bullish side shows the evolution of the 123 pattern into the W bottom, and then to the important neckline near 3100 we mentioned a few days ago. If it breaks below 3100, it may quickly pull back (meaning the previous live broadcast suggestion to buy near 3078). Ultimately, it stabilizes and breaks through 3100, heading straight for 3400 and the 3500 region. So, it has already reached 3400, with the highest last night at 3396.

Combining the four-hour structure with the daily bearish perspective, we last night suggested a short position idea, but also advised focusing on the needle point area because we previously set up a short near 3250. When it reached around 3240, we considered it to have hit the second position. At that time, the entry point was not precisely controlled. Now, it just hit the needle point area. Whether it will continue to test the second region depends on tonight’s situation. There are news early in the morning, and the market is expected to be volatile overnight, so be cautious of risks. The needle point area, as the name suggests, is a pre-judgment position at the needle tip, but it is also a supplementary precise level to prevent failing to reach the second area.