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Ethereum (ETH) has been drawing attention with its recent performance. After reaching a new high on the daily chart, ETH may enter the third wave of a decline. Currently, the daily chart indicates that it is in the second wave rebound phase, with an expectation of at least three candlesticks, and it may exceed today's high. This corresponds to the third wave pump on the 4-hour chart and the fifth wave structure on the 15-minute chart.
From the weekly level, ETH may enter a correction phase, expecting at least three Candlesticks, and may break through last week's low of 3353 dollars.
Currently, the 15-minute chart shows that ETH is transitioning from the fourth wave to the fifth wave. The support level below is around $3480-3500, while the target price above is $3650. Investors can pay attention to the stop-loss point of the fourth wave, after which a rebound in the fifth wave may occur, potentially providing opportunities for short-term bulls.
It is worth noting that the market is frequently volatile, and investors should operate cautiously and manage risks effectively. At the same time, closely monitor the overall market trends and other influencing factors, such as the macroeconomic environment and regulatory policies, to make more comprehensive investment decisions.