Early this morning, the cryptocurrency market experienced a long-awaited broad rally. According to multiple market data sources, Bitcoin rose over 2% intraday, returning above $65,000; Ethereum performed even more strongly, breaking through the $1,900 mark, with a 24-hour increase of over 3.26%, reaching a high above $1,916.

This rebound is interpreted by the market as a technical correction after an oversold condition. Previously, Ethereum had a cumulative decline of over 30% in February, with the daily RSI dropping to an extreme oversold level of 28. Analysts point out that the current rebound needs to first stabilize in the $1,920-$1,950 range. If it can effectively break through the psychological barrier of $2,000, it may further challenge the resistance at $2,150; if the rebound weakens, it could continue to test the support at $1,850.
Key Points
Price Performance: ETH breaks through $1,900, with a 24-hour increase of over 3.26%, currently around $1,932.
Nature of the Rebound: Technical correction after oversold conditions, driven by short covering.
Key Levels: Short-term resistance at $1,920-$1,950, strong resistance at $2,000; support at $1,850.$ETH