ETH
Yesterday's short-term strategy for the aunt was accurate. After briefly breaking through the 3530 level, the market rebounded and tested the chip area from the end of last month to the beginning of this month, aligning with expectations. The daily chart shows a double bottom retracting near the MA30, confirming support. Today, the closing line dipped again and is testing the mid-line for a rebound. On the daily chart, we will focus on the MA7 and MA30 range, treating it as a box for now. If it breaks, we will readjust.
The 4H level shows a second bottoming formation. According to technical analysis, the market is expected to adjust and oscillate for a while before choosing a new direction. Tonight, CPI data will be released, so we should pay attention to market reactions regarding news. Although there are signs of a bottom forming, if the upper resistance level is not breached, we will treat it as a range. The upper boundary is near the MA60, which is also a mid-line resistance. This is a key level for whether the short-term market can reverse. Below, we will continue to watch near the pin insertion.
