The bullish rebound of ETH. After the main coin shows a clear sign of stopping the decline, it initiates a rebound.
Although the rebound volume is not strong, it is enough to blow up the shorts that will chase the market.
Intraday rebound to around 4600 opens up a narrow range oscillation. It is not recommended to chase high long positions.
In the evening, pay attention to the pullback around 4450. After confirming the support is valid, especially when the main coin does not make a new low, there is hope for a potential bullish bottom structure.
Upper rebound pressure around 4700. There is a need for a pullback to test the pressure. After testing unsuccessfully in this rebound area, a small position can be tried short. The risk-reward ratio is still good.
Upper resistance: 4647/4709/4820
Lower support: 4520/4440/4400/4366