On June 1st, it was clearly stated that $ETH would fall to around the 1500 level, and the timing for the low point was given as late June to early July. Then on July 1st, after ETH dropped to 1505, another reminder was made that a phase low had appeared. Now, ETH’s rebound has continued for 76 days and the increase has reached 69%. Is it finished? What should we look at next?
As shown in Figure 1, the rally from 1505 can temporarily be regarded as a rebound against the black segment’s decline. Most likely, this rebound has not yet ended. The movement running from the high at 2546 on August 22 is a correction targeting the earlier uptrend. After the correction is over, it will continue upward to test the key resistance zone at 2680–2740.
If the key resistance level can be broken afterward, the rebound’s magnitude will expand to a rebound against the entire decline from 4955 to 1505. If this happens, it would be an optimistic signal and has guiding significance for the market outlook in the fourth quarter.#ETH走势分析 $ETH
As shown in Figure 1, the rally from 1505 can temporarily be regarded as a rebound against the black segment’s decline. Most likely, this rebound has not yet ended. The movement running from the high at 2546 on August 22 is a correction targeting the earlier uptrend. After the correction is over, it will continue upward to test the key resistance zone at 2680–2740.
If the key resistance level can be broken afterward, the rebound’s magnitude will expand to a rebound against the entire decline from 4955 to 1505. If this happens, it would be an optimistic signal and has guiding significance for the market outlook in the fourth quarter.#ETH走势分析 $ETH
