Matrixport: Ethereum Retests Key Support, Enters Observation Phase
According to ChainCatcher, Matrixport released a chart showing that Ethereum rebounded after stabilizing at the upper edge of a multi-year ascending triangle. The current trend has entered a critical observation period, and it still needs to be verified whether this is another false breakout or the start of a new upward movement.
Looking back at previous false breakouts, the downward momentum was relatively limited, and prices quickly rebounded afterward. The current trend also exhibits similar characteristics, so investors should pay attention to the possibility of a new round of rapid recovery. Overall, the technical rebound structure remains relatively positive. However, some buying may be driven by end-of-month performance dressing or early positioning for October's seasonal trends.
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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