January 23rd, Ethereum's rebound rhythm is worth paying attention to

Looking at the 4-hour chart, after several bearish candles retraced, the price started sideways consolidation at a low level. The Bollinger Bands are tightening, and the bulls and bears are roughly balanced. Once the consolidation is complete, a direction will inevitably be chosen.

On the 1-hour chart, after breaking below the lower band, a rebound with a bullish candle occurred. The long lower shadow indicates that the bulls are actively absorbing buy orders below, while the bears are losing momentum. The MACD fast and slow lines are close together, and the KDJ lines are about to cross upward, signaling that short-term rebound momentum is building, with a higher probability of moving upward.

In practical trading, $ETH can be supported around 2900, and the 2870 level is also worth watching. These two zones are relatively safe for low buying. The rebound target is around 3000-3030, which previously faced resistance. It remains to be seen whether it can hold steady. Keep an eye on the movements of $BTC and $BNB, as their trends will directly influence Ethereum's rhythm.