Ethereum shows a clear turning point. The price successfully breaks through the previous downward wedge pattern and stabilizes above the 0.382 Fibonacci retracement level, releasing a positive technical signal. Based on the current momentum continuation logic, it may briefly reach three key levels: $4950, $5760, and $6690. However, this bullish outlook depends on Ethereum holding above $3400 to confirm the validity of the breakout. If this support level is lost, the downside risk shifts to $3200. In terms of trading activity, the daily average trading volume remains around 2.6 million, reflecting moderate market participation. Whether this rebound can develop into an independent trend depends on whether it can effectively break through the resistance above.

ETH2,54%

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MysteriousZhang

· 01-18 23:52

Whether this rebound is reliable or not depends on whether 3400 can hold. Otherwise, it's just paper wealth.

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LiquidationWizard

· 01-18 14:06

If $3400 is broken, I'll run. This rebound looks too fragile.

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BearMarketBarber

· 01-16 01:52

3400 can't hold, don't waste time looking at Fibonacci, just go straight to zero.

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Degentleman

· 01-16 01:44

3400 is really the life and death line; if it breaks, you have to liquidate and run away.

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MEVHunter

· 01-16 01:35

watched the mempool all night... eth's breakout looks legit but that 3400 support is literally the only thing keeping this from going nuclear. if it cracks, we're watching it cascade down to 3200 real quick, not the fairy tale 6690 everyone's shilling rn

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DegenDreamer