The Ethereum market staged a textbook-level short squeeze reversal in the early hours! After a rapid drop below the 3100 mark, it briefly touched a low of 3066 before bouncing back strongly, forming a clear 'false breakdown' pattern on the daily chart. This trend indicates that the bearish momentum has gradually weakened after a concentrated release, and the 3100 level has successfully transformed from a previous resistance into strong support through intense long-short battles, becoming the core support for the bulls' counterattack, solidifying the foundation for further upward movement in the market.

Buy around 3070-3110, target 3240, 3400

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ETHUSDT

Perp

3,365.53

+8.79%