1.16 Morning Auntie

After reaching a high of around 3403 in this round, it immediately experienced a cliff-like decline, with bearish momentum strongly released. From a technical perspective, the MA7 moving average continues to trend downward, forming a standard bearish alignment with the MA30 moving average, indicating a clear short-term weakening signal.

After breaking below the key support level of 3300, the rebound was extremely weak, encountering resistance at the 3320 pressure zone before falling back. This shows that the bulls' counterattack strength is weak. The support at the 3272 low point below is precarious, with a risk of probing further down and making new lows. Currently, the market’s volume structure continues to deteriorate, with no signs of bullish volume release, and the oscillating downward pattern remains unchanged.

Overall analysis suggests that Ethereum’s short-term downward trend is difficult to reverse. The recommended trading strategy is to focus on shorting on rallies:

Short: around 3340-3370, targeting lower levels at 3280-3200#中文Meme币热潮 $ETH