Is there a possibility of returning to the 3300 range?
Updated
Considering the overlap in the 30-minute and 4-hour time frames indicating a supply zone on the chart, and viewing the recent price increase as a means of accumulating higher funds, surpassing the 3500 range still requires a significant jump in the overall market cap trend. Ethereum has managed to maintain its position due to its utility despite the severe market downturn. However, it’s important to note that surpassing the 3500 range necessitates a rise in Bitcoin to alleviate market fear. News regarding Ethereum ETFs could also be another exciting factor that has helped align the price with the market's upward trend. However, since the exact timing has been delayed, in my opinion, this jump is merely about collecting orders placed at higher points, and Ethereum still has the potential to decline until it reaches the 3650 mark.
Note
How was it? This time, it was rejected again from the drawn rangeNote
Next Step:If the price drops below 3340, there is no barrier to further decline until 3260. However, if the price does not stabilize at 3340, a rebound towards the 3500 ceiling can still be expected. Currently, we are in a range-bound market, but with proper capital management, a satisfactory profit can be achieved.
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