Ethereum's daily line shows resistance after a surge, with 4250 as a key reversal point. In the short term, a breakthrough or pullback is expected.

Yesterday, Ethereum's daily line closed with a small bearish candle with an upper shadow, reaching a high of $4250, indicating the clear resistance at the lower edge of the range around $4250 from early September.

The price drop suggests insufficient upward momentum in the market, with the overall situation in an orderly adjustment state.

From the overall structure, the bottom support area is between $3800 and $3950.

If a significant breakout above $4250 can be achieved later, it will confirm a double bottom reversal signal, targeting the $4500-4700 range; if the rebound lacks strength, it may test the $3950-3800 support area again.

The short-term moving averages have formed a golden cross and are moving upwards, but the price is still oscillating below the moving average convergence zone, indicating that the trend has not fully reversed yet. In the short term, it needs to break through the resistance of the 30-day - 60-day moving averages ($4150-4250) to establish a continuation of the rebound.

Recently, trading volume has significantly shrunk, reflecting a market sentiment leaning towards wait-and-see.

To break through the $4200-4250 range, it must be accompanied by a significant increase in volume to confirm the effectiveness of the breakout. The MACD indicator has diverged upwards after a golden cross below the zero axis, with the histogram values continuing to expand positively, indicating that the current support rebound continues, but there is a lack of strong volume cooperation.

In the subsequent market, if it can hold above $4000 within the short term of 1-3 days and break out above $4250 with volume, it will confirm a right-side reversal signal, targeting $4500-4700.

For intraday operations,

Pay attention to the bullish opportunities at the support level of $4080-4030 below,

And watch the resistance level of $4150-4200 above. #加密市场反弹