Ethereum technology breakthrough established, early morning Federal Reserve interest rate decision, both offense and defense are just a thought away, complete analysis of the future market cycle!
The weekly chart has shown a three consecutive bullish structure, confirming a breakthrough of the long-term downward channel. If the subsequent retracement does not break the upper edge of this channel, the rebound pattern is expected to continue. The daily level has recorded four consecutive bullish days accompanied by increased volume, completing an effective breakthrough of the downward trend line, and the W-bottom structure has officially formed. The next key upward target is around 3630, corresponding to the important resistance area of Fibonacci 0.5-0.618.
Looking at the four-hour level, Ethereum price is operating within a clear upward channel, currently receiving support and stabilizing near the middle track of the channel. If it can maintain above the middle track, it is expected to continue the oscillating upward rhythm within the channel, and in the short term will test the upper track pressure area of 3550-3600 again.
Intraday operation suggestion:
Short-term buy near 3270-3300, target 3400-3450
Today's focus: $ETH
