The overall market has reached the daily support level of 112000, and a rebound is normal. To confirm an effective rebound, it needs to break through 114700. According to Fibonacci retracement, the 0.382 level is 116700, which is also the central position of the range. If the rebound temporarily strengthens to 0.5, it could reach 118000. Additionally, the altcoin has not broken the hourly low, theoretically making its rebound stronger than the overall market.
