Ethereum Market Analysis and Warning Sign

After Ethereum reached a new high in the morning, the market retreated. It did not fall below the low yesterday, forming a small positive line, and the rebound gradually strengthened. As the level of market rebound increases, the corresponding risks also increase. It is recommended to be cautious in chasing long positions at high levels, and go long on dips when the market rebounds. It is better to make a small profit than to be deeply trapped.

Ethereum still shows a strong pattern, and technical indicators are all trending upward. Although yesterday's rebound was not coordinated by trading volume, if it continues to shrink and rise today, we need to be more vigilant, especially as the market faces the 4,000 mark, which may usher in greater fluctuations. Compared with Bitcoin, Ethereum is in a compensatory growth cycle, and the Cancun upgrade is coming, and risks also need to be paid attention to.

On the 4-hour line, the market rebounded quickly after falling back again yesterday. The position of the pin in the morning was at the false breakthrough position of the Fibonacci retracement line 1.13. It stepped back and got the support below and then rebounded. It is expected that the market in the white market will be dominated by shock and repair. Technical indicators show that the rebound trend is still obvious. The recent market rebound from new highs provides multiple opportunities to get on board, and everyone can seize them flexibly. Pay attention to the major new highs above and the breakthrough of 4000 points. I personally believe that 4000 points may trigger a wave of retracement. 4015 is the Fibonacci retracement line of 0.786 for the overall market rebound. Pay attention to risk control.

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