$ETH Cryptocurrency Analyst: ETH 3.24 at 2160 Building Base, Rebound or Reversal? These Key Levels Will Determine Market Direction! Latest Market Analysis and Reference Insights

ETH currently at 2060. Before publishing, many asked me whether the second coin's rally from 2020 to 2160 is still chaseable? Is this a reversal? Let's analyze the chart carefully. This northbound move isn't out of thin air—it's a result of oversold recovery combined with market sentiment resonance. However, trend reversal signals haven't fully materialized yet, and blind chasing highs can easily result in being trapped!

Daily Chart: Key Resistance Not Broken. Since the 1736 low, we've recovered some previous losses, but structurally still within the downtrend framework. Price rebounded to below the 2245 Fibonacci 0.786 resistance level, hasn't broken the descending trendline since 2385, and represents technical oversold recovery, not trend reversal. MACD green bars narrowing with DIF about to cross above DEA, but still below the zero line, indicating northbound momentum is still accumulating. Price above MA20 and MA30, but MA60 at 2171 remains overhead resistance. The bearish moving average alignment hasn't been completely broken—the major downtrend still dominates.

4-Hour Short-Term Rebound: Trap Risk Remains. Short-term structure is clearer. Price rapidly rallied from the 2021 low, broke above Bollinger upper band then pulled back, currently oscillating around 2160—typical short-term rebound consolidation after a sharp rally. MACD bullish cross with small red bar expansion, but DIF hasn't firmly held above zero. Strong resistance overhead at 2245 Fibonacci level, support below at 2080 Bollinger midline. After range consolidation, likely to choose direction. Now is the time to wait for the right setup.

Short-Term Reference: (Live trading data updated; consult me for details)

Lower Support 2100-2120 Northbound, Stop Loss 2080, Target 2160-2180. This is pure short-term rebound speculation, NOT trend-following longs. Must control position size.

Upper Resistance 2180-2200 Southbound, Stop Loss 2245, Target 2120-2100. Breaking below 2100, continue south to 2080-2050.

Actual execution based on real-time price action. For more updates, consult me. This article has publishing delay—for reference only, risk on you. ‌#加密行情震荡