In my previous analysis, I predicted that Ethereum and Bitcoin were in a rebound process at the weekly level, with irregular and complex rebound patterns forming at the daily level. Ethereum's rebound resistance is at 2,400, with Bitcoin mainly in the 76,000 range. After 22 days of rebound, we reached this level on Monday of this week, and a pullback has now appeared. Has the mid-term rebound in the market kicked off?

Currently, both Ethereum and Bitcoin are operating in the first stage of a long-term downtrend, though we have now reached the final stage of the first wave of decline. From a technical perspective, there is potential to fall below 60,000 again to complete a weekly-level decline. Only then will the market experience a relatively long period of upward movement, though of course this would only be a rebound. If there is another short-term decline today, a rebound will follow. After the rebound completes, the daily-level downtrend will continue as shown in the chart, image:59823