$BTC$ETH From a technical perspective, the 4-hour chart shows that the price quickly received support and rebounded upward after testing the lower Bollinger Band. It has now escaped the lower band area, and the overall trend is showing a convergence and gradually flattening. This usually indicates that a directional breakout may occur after a consolidation period. Furthermore, the price has stabilized above the short-term moving averages, indicating that the buying strength below is strengthening. Considering the key support level forming around 89000, the market is gradually shifting from a weak oscillating pattern to a rebound and recovery phase.
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