Old Lei's K-line today

The breakthrough of Ethereum technology has been established. The Federal Reserve's interest rate cut has set the tone early this morning, although it is temporarily in a sideways state.

However, the daily and 4-hour charts, along with the Bollinger Bands, are all in an opening state, with moving averages steadily rising towards the upper middle track.

The 4-hour chart has already shown an overbought market. From the market perspective, Ethereum is still in an upward trend, but considering the price plunge after the first two interest rate cuts this year, Old Lei suggests everyone maintain a wait-and-see approach and wait for the price to drop before entering long positions.

Wednesday's strategy: 3230 - 3260 layout for long positions

Target: 3350