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Lower band support battle—short-term rebound is about to ignite
After yesterday’s Ethereum touched the 2343 intraday high, it met resistance and fell back. Throughout the day, it printed consecutive bearish candles, with the lowest dipping to around 2283. The overall price action matches our “be alert to a pullback from high levels” outlook. During the U.S. session, the bears have been in control, and it is currently trading around 2327, with the daily chart showing a high-level pullback trend.
Ethereum’s chance for an all-out counterattack is here! On the 4-hour chart, it made an accurate retest and pulled back near the 2280 “iron bottom,” with the KDJ severely oversold—bears are running out of steam! Bitcoin has taken the lead in the counterattack, and Ethereum must follow!
Go long directly around 2310. First target: 2410. If it breaks out, look toward 2500.
$BTC $ETH