ETH's four-hour level is also constantly breaking through the rising trend line. From the previous trend, we can see that ETH has rebounded after the double-needle bottoming out, and this time it has formed a double-needle bottoming trend, but it has failed to break through the upward trend.
Then the market trend will bottom out again to accumulate strength for a better rebound.
The trend of ETH is similar to that of Bitcoin. It is also on the lower track of the Bollinger Bands in 4 hours. It has failed to hit the middle track and has fallen back. There is a trend of bottoming out again.
MACD is below the 0 axis. Unlike BTC, the trend of forming a golden cross is not so obvious, but it is expected that the market will form a golden cross trend after another downward exploration.
From the four-hour Fibonacci, we can see that the position of ETH's callback is expected to be around 3070-3040.
You can choose to go long in this range.
