Let's take a look at today's intraday market outlook for Ethereum. As of now, the price of Ethereum is fluctuating around $3480. From a technical perspective, the RSI was previously in the overbought zone, and has now fallen to 58. The MACD histogram is contracting, indicating a short-term need for consolidation.

Recently, the Ethereum Pectra upgrade has shown significant results, with Layer 2 transaction costs decreasing by 51%. On-chain fee revenue reached 39.07 million USD in June, and the staking volume for 2.0 increased by 700 million USD in a single day, all of which provide support for the price. However, there is strong resistance at 3450 USD (previous high) and 3500 USD (psychological barrier).

In terms of operation, if the price retraces to the 3350-3380 USD range, one can try to go long with a light position, setting a stop loss at 3300 USD and targeting 3450-3500 USD; if it hits 3450 USD and faces resistance, one can short with a light position, setting a stop loss at 3500 USD and targeting 3380-3300 USD. Be mindful of position control and risk prevention～ #eth#