Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Good afternoon everyone. Looking at this wave of market movement, it indeed lacks strength, with rebound momentum clearly weakening. Prices are oscillating repeatedly and consuming energy, only to fall back after touching around 97,900. In the short term, the key resistance level is around 96,200, at the upper middle band on the 1 to 4-hour chart. The next focus is to observe whether the 4-hour chart can hold this level. If it can stabilize, there should be another rebound opportunity, with the target around 98,300.
Regarding whether to short at the 98,300 level, based on current trading volume, if the price truly reaches that point, it can theoretically be considered for a position, but only as a light position for testing. The first support below is at 94,400.
Looking at Ethereum, it has formed a short-term correction pattern on the hourly chart. The short-term rebound resistance is at 3,330, as previously mentioned. To effectively break through this level, a volume increase is necessary to stabilize above it, and it depends on whether the trading volume during the US market session can cooperate. If the breakout succeeds, further attention should be paid to the performance at 3,430.
Overall, both assets are repeatedly confirming key levels. Patience in waiting for a clear direction is more important than blindly chasing highs.