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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Market analysis on February 17th
In the early hours of the morning, the Bitcoin price once again experienced a sharp decline, probing as low as 96304. Currently, although the price has shown a slight rebound, the upward momentum is weak and lacks continuity. Ethereum also encountered a sharp decline in the morning, touching a low of 2643.
From the 4-hour K-line chart, the previous coin price trend is relatively complex, first falling rapidly, then entering a slow downward channel, and finally plummeting again. After reaching a phase low, the price quickly rebounded. However, judging from various technical indicators and market sentiment, overall, the overall market is very weak, the rebound is weak, the 4-hour Bollinger Bands are narrowing for a reversal, and there should be significant market changes in the evening.
Warm reminder: Set the stop loss for the contract
BTC: Support level below 95000/94000, break below 94000 stop loss
Upper resistance level: 98500/98900
ETH:
Support below: 2625/2560 breaks 2560 stop loss
Resistance levels above: 2730/2780