After Ethereum retested the 12-hour EMA52 line, it experienced nearly two days of horizontal consolidation at the hourly level. Last night, driven by Powell's speech, the market suddenly surged, skyrocketing over 16% in a single day, with Binance spot prices hitting an all-time high.
The momentum for this round of increase mainly comes from the dual support of the 3-day MA30 and the 2-day EMA52. The current rebound can be seen as a confirmation of the retest of the 1-day MA30 and the 12-hour EMA52.
It is important to note that the pullback from August 14 to 19 has not fully completed, and yesterday's surge was more a result of short-term capital flow. Do not blindly chase high prices; be cautious of the potential pullback trend that may follow.
The daily EMA52 remains a key support level in the near term. Resistance can be observed at levels 4880, 5000, 5400, and 5800, while support levels are 4560, 4380, 4080, and 3780 in order.
