ETH's rebound accelerates and tests the previous high around 4755. Subsequently, it quickly falls following the market.
Once again, it tests the daily level broad fluctuation midline around 4400.
The intraday rebound is relatively weak. As the oversold rebound begins, there is no recommendation to chase shorts at the hourly level.
Subsequently, pay attention to the test of resistance around 4660 during the rebound.
The rebound test did not succeed, consider attempting to build a short position with light leverage. Regardless of whether it transitions into a high-level consolidation or prepares for another high point to reverse, the risk-reward ratio is quite favorable.
If it breaks and holds above 4800, a new bullish structure will continue.
The target is similarly the previous high around 4950, and it may even challenge new highs to capture the liquidity of high-level shorts.
Resistance above: 4542/4583/4640/4682
Support below: 4420/4398/4345/4287
#eth