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Ethereum's market has indeed been fluctuating a lot these past two days. From a technical perspective, although the price has pulled back, the rebound signals are still quite clear. Especially as the hourly MACD indicator is about to form a golden cross, which usually indicates that the downward momentum is gradually exhausted. Many traders see this as a good opportunity to buy on dips, as the market's rebound correction signs are still present.
Of course, there are also differing opinions. They point out that the market is currently filled with panic sentiment, and the bears are trying to control the rhythm. But overall, the bullish trend still has support, and the key is whether it can effectively break through the resistance level above. The short-term market's success or failure likely hinges on these support and resistance levels.
**Spot Market Snapshot**
Bitcoin is currently around 3269.49 USDT, with support at 3201.91 (about 2.22% below), and the support zone is between 3180.71 and 3210.02. The resistance level above is near 3308.0, which is close to the pressure level, so caution is advised.
**Trading Strategy**
From an operational standpoint, you can place buy orders near the support level, and set a stop-loss if the support is broken. This approach can relatively control risk while capturing rebound opportunities.