Market Analysis——$ETH 🔥🔥

Compared to the overall market, both ETH and the major indices have broken through the previously maintained upward trend line from a long-term perspective. However, from a short-term perspective, they have shown signs of bottoming out after a significant drop.

Considering these two situations, before the current price continues to decline, there is a demand for a rebound in the consolidation area where the main funds are gathered.

This is reflected in the market as the smaller cycle level has already shown signs of bottoming out, but it has not yet broken through key positions. At the larger cycle level, prices are continuously being suppressed, which has resulted in obvious layering of prices and limited the space for price increases. In simple terms, after bottoming out in the smaller cycle, there is a possibility of a price surge upwards, but overall, the bears still dominate, so even if there is a surge, the amplitude will not be too large.

Specific points of reference are as follows: short-term support is in the range of 3069 to 2970, short-term resistance is in the range of 3333 to 3402, and the second resistance level is in the range of 3510 to 3620.

Although the market is slightly sluggish now, opportunities to earn U will come! Be patient and wait for the opportunities to arise; the chatroom will share the trading points later. #ETH走势分析