ETH 4-hour timeframe: Key support test may present a good rebound opportunity
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The current price is at 3021 USDT, and it is currently retesting the strong support zone at 2935-2947, which is a high-volume area accounting for 8.07% of the total trading volume. This indicates a strong willingness of the bulls to defend this price level. According to the member indicators, the chip distribution shows that the buying power at the support level is dominant (buy/sell ratio 1.003), further confirming the possibility of price stabilization in the support zone. In addition, the candlestick pattern shows a bottom formation, the RSI double bottom pattern simultaneously confirms a bullish signal, and although the MACD indicates some retracement pressure, the bearish momentum is weakening. In the short term, pay attention to the upside potential after breaking through the 3023 resistance, with a target at 3045. Activate your membership now to accurately capture key support and resistance levels in chip distribution!Data sourced from PRO Membership [ETH/USDT, a certain exchange USDT perpetual, 4-hour] candlestick chart, for reference only and not to be considered as investment advice.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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