3- 29 Midnight View

Currently, ETH has rebounded significantly after falling from the high point of 2200 to the low point of 1966. The price has now returned to the vicinity of 2020. Overall, this wave represents a technical rebound repair after a decline. Short-term bullish momentum has strengthened, but the overall trend is still in a counter-trend phase within a bearish structure.

Currently, the 2020 line has become the new short-term watershed. If the price can stabilize at 2020 and continue to break upward, there is a chance for the market to further test the 2050 or even 2080 resistance area; if it falls below 2000 again, the market may still retest the 1960 or even 1900 support area.

BOLL (Bollinger Bands):

Upper Band: around 2206

Middle Band: around 2068

Lower Band: around 1929

The Bollinger Bands are still running downwards overall, with the middle band forming resistance above 2060. The current price has rebounded from the lower band to the area below the middle band, indicating that the market is in the rebound repair phase of a bearish trend. If it cannot break through the middle band resistance, the rebound space will still be limited.

MACD:

DIF and DEA are still operating below the zero axis, but the red bars continue to grow, indicating that short-term bullish momentum has significantly strengthened, and there is a demand for further rebounds in the market.

Key Resistance Levels:

2050 (short-term resistance)

2080 (structural resistance)

2120 (strong resistance level)

Key Support Levels:

2020 (short-term support)

2000 (integer support)

1960 (previous low support)

Summary:

The current market is in the rebound repair phase after a decline, with short-term bullish momentum strengthening, but the overall trend has not yet completed its reversal. Focus on the two key positions of 2020 and 2050: if it can stabilize at 2020 and continue to attack, the rebound space will further open up; if it falls below 2000 again, the market may still return to a bearish structure. In terms of operation, it is recommended to participate in the rebound in line with the trend, but remain vigilant about pressure at high levels. $ETH #ETH Trend Analysis