ETH: Key points determine the direction, a new situation of long-short game
ETH Ethereum has clearly pointed out last night that if it cannot successfully stand above 3610, it will continue to be in a correction trend. After reaching the second support level last night, it started to rebound and reached the area near 3605.
The current overall situation is that the daily line is under the control of many parties, while the 4-hour level is in the process of correction.
Today, we need to pay attention to the key point of 3592. Only when the 4-hour level closes firmly above this position, this wave of 4-hour level correction will be declared over, and the market can continue to move upward. The upper target pressure level needs to pay attention to the range near 3622, 3655 and 3688.
(Note that 3688 is the high point of the previous 4-hour level rebound, and there is an opportunity for short-term operations here.)
If the 4-hour level today cannot successfully stand above 3592, it means that the upward trend of the market is blocked and the correction trend will continue. The support level below needs to pay attention to the area around 3535, 3493 and 3454. $ETH