Ethereum failed to effectively break through the key resistance area of 3470-3500 after an overnight surge to 3479 USD, and then the market encountered resistance and fell back. The significant selling pressure at this position caused the price to turn from rising to falling, forming a bearish "high and then low" pattern, indicating that the long positions' strength has been exhausted, and short-term top characteristics are beginning to emerge.

From a technical perspective, a top divergence signal may appear on the short-term charts where the price reaches a new high but the momentum indicators do not follow, revealing a lack of intrinsic strength in the upward movement. At the same time, the current pullback from nearly 70 dollars from the high has almost swallowed most of yesterday's gains, further confirming the strong willingness of the market to take profits, with bears taking advantage of the situation to apply pressure. Currently, the price is barely hovering around the psychological level of 3400 dollars; if this position is effectively broken down, it will confirm the continuation of the pullback pattern. The primary support below will look at the 3350 line, and if lost, it may further open up downward space. Overall, the short-term technical structure has turned bearish, and the market faces further risk of a decline.

BTC strategy: Short near 103800-104000, target 102500
Ether strategy: short near 3420-3440, target 3320#参与创作者认证计划月领$10,000 $ETH