After experiencing a sharp decline yesterday, Ethereum quickly rebounded, signaling a possible bottom. Since the decline from the high above 3200 points, the downward trend line has been broken, and the four-hour chart shows a bullish pattern of yang and yin, showing the motivation for a breakthrough. This rapid recovery could be a sign that bulls are regaining strength.

After the price fell from the high of 4,000 points, the convergence range gradually narrowed. Taking into account the CPI data to be released tomorrow, a major market turning point seems imminent. Investors should hold their cheap positions now and prepare for a breakthrough of the downward trend line and an oversold rebound.

Yesterday, the most significant rebound in the market was the MEME series of coins. In the last bull market, the performance of these currencies usually signaled the end of the market, but in the current cycle, it seems to be a signal of the start of the market.

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