Current Market Brief Analysis:
Price is fluctuating in the range of 3500 to 3600.
Recently, ETH has rebounded from the bottom and broken through 3600, but there is significant pressure above.
In the chart, you can see a dense cluster of liquidations in the range of 3650 to 3700, which is a key resistance area. Once broken, it may accelerate the upward movement.
Current market sentiment is cautious.
There has been no extreme surge or drop in volume; the candlestick pattern shows a steady rebound rhythm, indicating that the market is in a 'repair' phase.
Bulls are attempting a counterattack but need to effectively break through the heavy pressure area above (around 3700).
Currently, ETH is in a fluctuating rebound phase, with short-term upward potential. However, 3600 to 3700 is an important resistance level, and a successful breakout is needed to enter a new strong trend. Strong support is near 3450; as long as the pullback does not break the support, there are still opportunities for bulls.
