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Ethereum has finally welcomed a rebound, but in the afternoon, it fell into sideways consolidation, with the price at the hourly level struggling to break through the middle band resistance. The current candlestick has entered the overbought zone, and the resistance above is particularly obvious. It is expected that in the short term, there is a high probability of an appropriate pullback to accumulate energy, paving the way for another upward push.
Subsequent focus should be on the effectiveness of support at the 3300 level. If this position is lost, we can further look towards the vicinity of 3270; if support can be maintained and a pullback is completed, the rebound target can be focused on the 3357-3389 range. I have been tracking this range for a day, and based on the current market structure, the likelihood of reaching the target remains relatively high.