Ethereum's market experienced great fluctuations in the last trading day. It rebounded near 1635 in the morning but failed to stabilize and fell back continuously. It fell back to near 1580 in the afternoon and began to fluctuate. It fell below the support near 1555 in the early morning of today, and only stopped the decline and rebounded near 1545.
The 4-hour chart had previously experienced a weak unilateral decline, but this week's gap-up opening broke the weak pattern and re-established itself above the middle track. Currently, it is undergoing a rebound correction. Pay attention to the sustainability of the white market, whether it will rebound further or turn down again after correction.
From the 4-hour level of Ethereum, it started to fall under pressure from the MA30 moving average, and the previous 1600 support level turned from long to short. Therefore, today's short-term rebound can refer to this position. If there is no rebound and break through this level in the morning session, then this round of top and bottom conversion has not been effectively completed, and the subsequent market will most likely still go through a new round of downward movement around the previous support range. It is sufficient to arrange long orders in the short term during the day.
Ethereum thinking suggestion: 1540-1560 long, target 1580-1600.