The market rebound has started, is the next opportunity or a trap?
Today's market clearly shows signs of warming up, especially with mainstream coins like ETH and BTC experiencing significant rebounds, with prices stabilizing at key support levels, and market sentiment beginning to recover. From a technical perspective, while the momentum of the rebound isn't particularly strong, a considerable amount of capital is starting to position itself.
Currently, the market's trend is very critical, with prices oscillating around 2600. If the support level at 2580 holds, then we look upward, with 2650 and 2700 being two important resistance levels. If we break through 2650, the short-term bullish trend in the market may continue, and we could then attack 2700, potentially leading to a larger upward movement.
The current rebound has not yet been fully confirmed, and the prolonged period of consolidation could encounter strong bearish pressure at any moment. If it falls below 2580, the subsequent support levels may be weaker, possibly leading to a rapid pullback to around 2500.
The current pace is more suitable for light positioning at low levels, especially close to the support level of 2580.
Are you ready to start positioning if you haven't already?
