Daily market analysis - $ETH
The reference period is 4H. I can't give a definite answer this time. From the left picture, the price has completed support in the 2398 area, and it is an upward structure in the short term ("higher highs and higher lows"). Then the expectation is that before the price falls below the 2398 area, it will rebound to the untouched 2560 area.
But from the right picture, the current market gives me the feeling of a "falling box that has not yet formed". In fact, there is a common point, which is the 2398 area, one as support and the other as the middle track of the box. If you want to go long, no problem, just set the stop loss below the 2398 area.
