Recently, everyone has been paying attention to the $ETH support level of 4000-4100
I also took a look, and ETH has been oscillating back and forth in this range over the past few days, with trading volume significantly increasing. This indicates that there is fierce contention between bulls and bears here, providing some short-term support, but it may not hold steady
Looking back over the past three months, each time it drops near 4000, there has been a small rebound, and this time is no exception. However, such rebounds are often just short-term corrections and do not indicate a long-term trend reversal
So even if a rebound occurs, don't rush to buy the dip or heavily enter the market
I wonder if everyone has noticed these situations:
Trading Volume: Over the past few days, while ETH has been oscillating around 4000-4100, the trading volume has noticeably increased, indicating that the bulls and bears are still locked in a tug-of-war, with neither side giving in
Market Sentiment: The sentiment has become anxious, and when seeing a drop, there's a tendency to rush in to buy the dip. This mindset can easily lead to being trapped in short positions or causing a stampede.
Historical Trends: In the past few times it dropped near 4000, the rebound range was generally around 3%-5%, after which it mostly either continued to consolidate or tested lower again, without a direct surge upwards
For those looking to buy the dip, don't rush; it may not be the right time to do so yet
