$ETH Academician of the Crypto Circle: 7.4 Ethereum (ETH) Current rebound is a trap for longs or a reversal? Latest market analysis reference

　　
　　Ethereum is currently at 1732. I know many of you have been struggling to hold through this drop, staring at the low of 1500, scared and afraid to move. Now that it has finally rebounded, you don't know whether to hold or not. Actually, there's no need to panic; the market won't move the way you want just because you're panicking. Right now, ETH has just climbed out of the pit. Don't start fantasizing about a direct surge back to 2000 just because of a rise. Focus on what's in front of you, focus on the current market, and don't predict the future.
　　
　　On the daily K-line, it has rebounded from the previous low around 1503, just touching the 100% Fibonacci retracement level of the downtrend before stopping the decline and rallying. From the moving averages, the price is still below short- to medium-term MAs like EMA15 and EMA30, and the medium-term downtrend has not fully reversed; however, the MACD histogram bars are continuously shortening, and DIF and DEA have formed a golden cross at low levels and are moving upward, indicating that the downward momentum is clearly exhausted. The lower band of the Bollinger Bands forms support near 1520, and the current price has risen above the middle band at 1672. Short-term rebound momentum is being released, but it is still under pressure from the 78.6% Fibonacci line at 2242.
　　
　　On the 4-hour K-line, it has just touched the 23.6% Fibonacci resistance level of the downtrend segment around 1730, facing short-term pressure. Looking at the moving average system, EMA15, EMA30, and EMA60 have formed a northward alignment, with the price standing above all short- to medium-term MAs. The rebound trend is relatively healthy; the MACD red bars are continuously expanding, with DIF and DEA moving upward synchronously, indicating sufficient northward momentum. The Bollinger Bands are opening upward, with the price running along the upper band. The short-term strength is continuing, but the KDJ indicator has entered the overbought zone, so caution is needed for short-term pullback risk.
　　
　　Short-term reference:
　　
　　If 1710 to 1690 does not break to the downside, go northward, with a stop loss at 1660, target 1750 to 1800.
　　
　　If 1780 to 1800 does not break to the upside, go southward, with a stop loss at 1830, target 1730 to 1690.
　　
　　Specific operations should be based on real-time market data. For more details, you can consult the author. The article is published with a delay, and the suggestions are for reference only. Risks are borne by yourself.