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.
ETH-1.69%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
0/400
GweiWatchervip
· 5h ago
Hmm, it's boring. This market is the kind that drives people crazy.
View OriginalReply0
UnluckyValidatorvip
· 5h ago
Starting to drain again, really annoying. Try 98300, but I still choose to watch the show.
View OriginalReply0
YieldFarmRefugeevip
· 5h ago
It's another cycle of fluctuation, so annoying. It feels like the main players are testing our patience.
View OriginalReply0
AirdropHuntressvip
· 5h ago
If the 96200 level can't hold, then it depends on 94400. This wave is indeed not very meaningful, just a consumption battle.
View OriginalReply0
OnlyOnMainnetvip
· 5h ago
Still fluctuating and draining, this rhythm is a bit annoying, just not strong enough.
View OriginalReply0
PoolJumpervip
· 5h ago
It's the same repetitive fluctuation again, really exhausting. It keeps bouncing back and forth at these few points.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)