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Ethereum latest updates + support and resistance levels sharing!!! #ETH $ETH
🚨 Urgent Market Qualitative Assessment: Rebound Fails, Second Bottom Test
Latest situation: Yesterday we mentioned the 3000 mark, which was once recovered and rebounded to 3046, but the bulls were unable to hold their ground. This afternoon, ETH, following the market (BTC fell below 88k), weakened again, currently priced at 2967, back below 3000, and has broken below this morning's consolidation platform.
Pattern Analysis: The hourly chart has formed a "inverted V top" or a "rectangle" decline. This means that last night's breakout was a "bull trap," and the market is currently undergoing a second bottom test (Retest).
Key Game:
Bearish target: thoroughly break through 2950 (the low point of the previous few days' spike), to test the deeper level of 2880 - 2900 buying.
Bullish defense: A double bottom must be formed near 2950. If the US stock market does not stop falling at 2950 when it opens tonight, panic will intensify.