The trend in recent days has been quite similar to Ethereum. Last night, the price rose rapidly and returned to near the integer threshold of $200, forming a downward retracement at the hourly level after facing resistance.
As long as it does not stabilize above the integer threshold of $200, the price will continue to decline and retrace until it breaks through and stabilizes at this position, which will then open up new upward space.
The short-term trend will still follow Ethereum.
This is a rebound formed by the downward retracement of the daily EMA52 line. Pay attention to the upcoming downward retracement; this position is no longer an effective support. The effective support remains the daily MA120 line, and here it’s bold to enter the market.
Daily level resistance at 203-213-237-250, support at 177-165-156-145-136
