The previous two rebound highs of ETH formed a key resistance level for the bottom area. $ETH can only give a clear bottom reversal signal if it effectively breaks through the key resistance level of 3550.
Yesterday, $ETH rebounded to a maximum of 3510, still some distance from the resistance level, and the rebound trading volume was less than the trading volume on the 23rd, indicating that the buying pressure is not strong at the moment.
Furthermore, the large net outflow from the Ethereum ETF yesterday sent a bearish signal, which is not favorable for Ethereum's upward breakthrough.
In this situation, trading Ethereum still requires caution and is not suitable for aggressive long positions.
