Niu, there is reason, analysis is good

The pancake bottomed at 112600 and rebounded strongly above the 119450 level; the four-hour view shows a strong bullish pattern overall, with clear technical signals supporting the upward trend: the Bollinger Bands continue to expand, operating steadily above the upper band, with the middle band moving up as strong support, confirming the short-term bullish position remains solid, and the upward channel remains intact. The MACD indicator also confirms the strength, with the DIF and DEA maintaining a high-level golden cross pattern, and the red energy bars continue to expand, indicating that bullish momentum is still being effectively released, with no signs of decay yet.
Ethereum and pancake movements are forming a strong linkage, with buying power gradually being released, initiating a corrective rebound, with the high rebound reaching around 4380, and the overall trend still leaning towards strong bullishness.
Currently, the short and medium-term resistance for pancakes is at the 120000 level, with support at the 112000 level; Ethereum has strong resistance at the 4500 level, and strong support at the 4000 level.