ETH may rebound in the short term: key resistance level at 4296.5

Member indicators show that the current price is below the EMA24/52 moving average, and EMA24 crosses EMA52 to form a dead cross, indicating a clear bearish signal in the medium to long term. Meanwhile, although KDJ is currently experiencing a dead cross, its J value is extremely oversold, increasing the probability of a rebound. The distribution of chips shows that 4296.5 is a strong resistance level, accompanied by a decrease in trading volume, and market sentiment tends to be wait-and-see. The latest 4-hour cycle K-line shows a cross shaped star, with a bottom pattern indicating the formation of a local bottom. Combined with the RSI double bottom pattern, short-term rebound opportunities are apparent. If the price breaks through the resistance of 4296.5, it may accelerate its upward trend. Open a membership, obtain accurate buying and selling points, and stay ahead of the curve to lock in profits! The data is sourced from the PRO member's [ETH/USDT Binance USDT perpetual 4-hour] K-line, for reference only, and does not constitute any investment advice.