$ETH 6.14 The Second Morning Thoughts


Yesterday, a wave of bottoming out and rebound correction rhythm was observed, slowly rising from the early lows, with the intraday low touching around 166, and the high reaching 169. Currently, it has returned to 168, overall in a oscillating upward correction channel.
From the 1-hour Bollinger Bands structure, it is seen that the price is now above the middle band, which is turning upward. The upper band acts as short-term resistance, while the lower band continues to rise, forming support. Overall, it shows an oscillating correction rhythm leaning towards a rebound, and as long as the support zone in the dip head is not broken, the rebound is expected to continue. If it cannot break through the upper band resistance, it is likely to return to the consolidation within the range.
In summary, 170-171 is a target for the bull, 166-167 for the bear. $ETH
ETH-0.27%
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