The price of the pancake has now fallen to a minimum near 96000, within the range of 94000 - 96000, which currently constitutes a rather strong support force. Next, we will see if this range can stabilize successfully.
The 96000 point has been touched. From a daily perspective, the first thing to closely monitor is the support situation in this range, and then explore the target resistance levels during the rebound process. Given the current market situation, the upper resistance levels to focus on are in the range of 100000 - 102000.
The rebound of ETH yesterday was relatively weak, only rising slightly above 3700 before retracting again, failing to reach the 3800 point. This pullback directly dropped to just above 3300.
Although the entry timing yesterday was slightly early, altcoins did not follow the downtrend in this round of decline. It can be said that the decline in altcoin prices has been relatively limited, showing a trend of gradually easing declines. Therefore, relative to the current support position of the second pancake, the range of 3260 - 3320 can be referenced; this support level has already been touched once in the daily timeframe.
In the daily timeframe, focus first on the resistance points in the range of 3600 - 3800. As for whether it will start an overall rebound trend or strengthen the movement to boost market activity, we still need to pay attention to whether the second pancake can stabilize again at 3800 and successfully open up upward space.
