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Ethereum successfully broke through the key resistance level of $2735 on June 10, closing stable above that level, with long positions showing an intention to control the market. From a technical perspective, the 20-day moving average has turned upward, and the RSI indicator is close to the overbought zone, all of which are strong bullish signals. The short-term target may directly point to 3133 USD. Of course, the bearish forces are still present, and they may try to pull the price back below $2735 to create the illusion of a failed breakout. However, as long as the price can hold above the $2735 support, or if there is a strong rebound at the 20-day moving average around $2594, then Ethereum is likely to continue upward to $3000 and further challenge $3133. It is important to be cautious that if the price cannot maintain its current level and breaks below the 20-day moving average support at $2594, it could mean that the breakout at $2735 is just a false signal. In this case, the market may be luring more investors in, only to subsequently perform a shakeout. Overall, Ethereum is currently at a key technical position, and the subsequent trend will depend on whether it can effectively hold the recently broken support level.

Today, I would like to share some of my observations and analysis on the current price trend of Ethereum. The other day I predicted that Ethereum would not break through $2,880, but the fact that the highest point was only $2,879 made me even more convinced of my judgment. I still believe that Ethereum will form a deep V-shaped pullback on the 4-hour chart, and this judgment is based on the following three considerations: First of all, there are currently too many investors in the market optimistic about Ethereum breaking through 3000 USD, creating a clear one-sided expectation. However, financial markets often do not meet public expectations, and the actual breakthrough of 3000 USD may occur when most people no longer expect it or even think it is impossible, similar to the market psychology when Bitcoin reached 110,000 USD. Secondly, the market rhythm pattern indicates that a rapid rise is usually followed by a rapid decline, while the current slow upward trend of Ethereum is more likely to lead to a slow decline. This "boiling frog" price movement is often more deceptive. Thirdly, from a technical analysis perspective, Ethereum has a price gap in the range of $2080-$2450 that has not yet been filled. This technical pattern suggests that the price may pull back to fill this area. Based on the above analysis, I expect Ethereum to retrace to around $2100. This forms the basis of my trading strategy; if the price breaks above $3000, that will be my stop-loss point; if the retracement occurs as I anticipate, it will validate my judgment. The market is always full of uncertainty, and every trader needs to make decisions based on their own analysis.

Recently, a token named "LABUBU" quietly made its debut amid the popularity of the same-name IP in the toy industry and has been listed for trading on multiple cryptocurrency platforms. The token experienced significant price fluctuations in its early days of trading, initially skyrocketing before undergoing a substantial decline. It is worth noting that this LABUBU coin is not from the official Bubble Mart, but rather a product released by a self-proclaimed community-driven development team. This significant price volatility actually reflects the enormous investment risks behind it. In fact, such projects often lack substantial value support and may essentially involve fraud and pyramid schemes. This project is believed to be developed by a Chinese team. In the cryptocurrency market, investors should maintain a clear mind and avoid blindly chasing trends to fall into risks.