Ethereum's weekend performance was not as weak as expected. After support was found at the lower edge of a large-scale wide channel, the small-scale consolidation over the weekend led to an upward breakout of the triangle. With the market rebounding, it has once again approached the significant level of 2630 where previous support and resistance were exchanged.
As a region that provided short-term support during the decline and has been validated by past market behavior, it has started to face resistance and is naturally retreating when testing this area during the day.
The upward momentum of ETH is noticeably stronger than that of Bitcoin, and it is highly likely that the short-term rebound is not over yet, and there are no signs of weakness at the current position.
Pay attention to the pullback position in the small scale; entering low long positions in line with the trend will have a better risk-reward ratio.
Several positions to pay attention to
Support Position
First Position 2580-2600
Second Position 2550-2560
Third Position 2480-2500
Resistance Position
First Position 2660
Second Position 2700-2720
Third Position 2760-2780
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