The big one is coming! Ethereum 4 hours: Is the rebound supported, and will the 3800 resistance level be broken?

A deep analysis of Ethereum's 4-hour trend shows that the candlestick chart presents a situation of rising and falling. After experiencing a consecutive decline of 5 bearish candles, it has now begun the process of bouncing back from the bottom.

The rebound strength is quite considerable, and the length of the lower shadow is significant, which indicates that there is active capital entering the market to buy at the bottom in the short term.

At the same time, the lower MA120 moving average provides strong support. Considering all factors, the space for a pullback is relatively limited, and it is expected to stabilize around 3600 at most after a pullback.

Once the consolidation is completed, Ethereum is likely to continue its upward trend, launching a strong attack towards the key resistance level of 3800.

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