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ETH didn't move today.
The rate cut yesterday indeed followed through, and the target was hit. Now, looking from a smaller timeframe, don't be fooled by those short-term supports.
On the four-hour chart, that big bearish candle was quite fierce. Without strong stimulation, it's hard to see a quick rebound in the short term. The monthly and weekly charts are still there, and the bear market sentiment hasn't dissipated.
The overall outlook remains bearish. But why are we staying on the sidelines today? Because the support at this level is somewhat significant, and there might be a small rebound—keeping an eye on the 3240 and 3300 levels.
Especially during the period before the US stock market opens, stay alert.