💥Black Friday: Opportunity after the big drop, or a trap in waiting?💥

From a technical perspective, the price of $ETH has found support after the drop, showing a small bullish candle, indicating that bullish momentum is gradually building.

Although the short-term moving averages still lean downward, a sustained rebound could lead to a 'golden cross' formation, generating a bullish signal. The trading volume increased during the decline, and there was no significant shrinkage in volume during the rebound, indicating a high level of market participation, and bullish potential remains.

Considering the current market environment, if the overall cryptocurrency market warms up, and NASDAQ futures boost risk asset sentiment, along with favorable fundamentals, it may be worth considering going long at the current price level.

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