The US market has taken the concept of first falling and then rising, and first rising and then falling to the extreme!
Last night, ETH surged to the round number of 2879.00 following positive CPI news, breaking through the false breakout of the daily trend at 2835. However, it did not stabilize on the 4-hour and daily charts, testing formed a high point. If it cannot break through in the short term, it may need to pull back before rising again;
Today, ETH looks at the central upper rail support at 2720-2740. If it does not break, there is a possibility for further upward movement; if it breaks, we will observe first. If it breaks the daily 5-day moving average at 2700, it will likely pull back to the central area and around the daily mid-track at 2600. This may take about a week for bottoming out before rising again;
At the bottom, pay attention to the lower support of the 4-hour MA200 moving average and the daily mid-track at 2600. Additionally, combined with the contract's integer pin, it might just be possible to catch a great bottom;
