🚀 Ethereum rebound signal appears, the next wave of the market is about to start!
Currently, the ETH/USDT price is $2,566.55, with a drop of -0.80% in the past 24 hours. However, from a technical perspective, Ethereum is showing potential for a rebound:
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1. Moving Average Pattern Analysis
MA(7) = 1,921.02
MA(25) = 2,652.98
MA(99) = 2,599.18
Although the short-term moving average (MA7) is still below the long-term moving averages, the price has already broken through the recent low, forming a preliminary signal of a **"Golden Cross" reversal**, and buying power is beginning to warm up.
2. Increased Trading Volume
Recent trading volume has significantly increased, indicating a rebound in market sentiment, with increased capital inflow, and is expected to form stronger rebound momentum.
3. Support and Resistance Levels
Main support level: 2,303.85
Recent resistance level: 2,652.98 (MA25)
Target resistance level: 3,605.06
If it can break through the mid-term resistance level of 2,652.98, it will further open up upward space, challenging the high points above $3,000.
4. Long-term Trend
Although the performance over the past 90 days (-6.14%) and 180 days (-18.28%) remains weak, there has been a rebound of 58.34% in the past 30 days, indicating strong bottom support.
5. Market Sentiment and Macro Environment
With the completion of the Ethereum 2.0 upgrade, network efficiency and scalability have significantly improved, and institutional capital continues to flow in, providing strong long-term fundamental support.
⚡ Overall, Ethereum is re-entering a bullish channel. If the subsequent trading volume can continue to increase and break through key resistance levels, a larger market reversal will be welcomed! HODLers prepare for a new wave of bull market!
