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ETH Market Today
Focus closely on 2020.
If the 4-hour chart stays strong above 2020, the rebound trend may continue. Resistance levels to watch are 2060, 2095, and 2140. If price pushes up but meets resistance, you can consider setting up a short position in a timely manner.
On the other hand, if the 4-hour close fails to stand above 2020, it indicates the bulls lack momentum, and the market will most likely fall again. Support levels are at 1975, 1936, and 1893, where you can take long positions in batches.
Refer to the exchange’s position/holdings data to clearly see the moves of the main participants. When the rebound is weak, be patient and wait for a pullback; if a breakout fails, adjust your thinking promptly. Make sure to control position sizing and avoid the risks caused by needle-like/“piercing” price wicks.