#ETH
ETH Market Analysis (4H)
Continuing from the previous ETH analysis: Yesterday, I briefly discussed the current trend of Ethereum with the brothers and provided short-term support levels. However, it rebounded before hitting the support due to a drop, similar to Bitcoin, which is also facing pressure at the high point of the last rebound.
From a purely technical perspective, Ethereum here seems to have the potential for further explosive upward movement. The 0.382 retracement level of this wave has stabilized, and combined with the previous trend, the low points are rising, forming a triangular trend channel. Currently, it is in the finishing phase, waiting for a wave of accelerated breakout, with a high probability of an upward structure! Pay attention to the short-term support around 3440 for support reactions, while the upper focus is on the position of 3720!