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The Ethereum market presents a complex situation today. The 4-hour candlestick chart shows that the bearish forces dominate, while the bullish counterattack is weak. The price has fallen below the EMA20 moving average, and may face pressure in the short term.
Currently, the market focus is on the key support range of $2940-$2950. If effective support can be obtained here, and the trading volume shrinks moderately, it may become the starting point for a new round of increase.
Investors may consider the following strategies:
1. Try to go longer in the range of 2940-2950 USD, with a target price of 3000 USD or 3300 USD.
2. If it falls below $2930, consider going short in the trend, with a target price of $2830.
It is worth noting that the upcoming CPI data may have a significant impact on the market. Investors should closely monitor the market response after the data is released and adjust their strategies in a timely manner.
Overall, the current Ethereum market is in a critical stage of a long and short game. Investors need to remain vigilant, closely monitor the performance of support levels and changes in trading volume, and respond flexibly to market fluctuations.