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11.4 Midnight ETH Analysis
1. Reaching key support, the probability of a rebound is high.
The current price of 3628 is very close to the lower Bollinger Band at 3577. The lower Bollinger Band is a dynamic strong support level. When the price touches or falls below the lower band, it usually results in a technical rebound, returning to the middle band at 3711.
2. There is room for a rebound from overselling.
After quickly falling from the high point of 3917 to the current price level, short-term bearish momentum has been released. The price is below 3650, especially when close to 3600, entering a recent trading congestion area, and is expected to receive buying support, forming an oversold rebound trend.
· Ideal entry zone: 3570 - 3600 range
· Short-term goal: around the middle band of the Bollinger Bands at 3711
· Key Resistance: 3850