Market Analysis 2026.02.09

On February 5th, I mentioned that ETH would find a bottom in the illustrated zone after a pullback and then experience an oversold rebound. Subsequently, ETH dropped to 1748 and followed the expected rebound, with a maximum increase of 23%. Has the rebound ended now?

As shown in the chart, the ongoing rebound of ETH is most likely not over yet. On the four-hour timeframe, there are two possible future trends for ETH. The difference between the red and blue lines lies in the strength of the rebound rally starting from 1748.

Red Path: Recently, ETH will undergo a small-scale correction. After finding the end of the correction, it will rally again to complete the oversold rebound, then continue to find a bottom. In this scenario, ETH would break below 1748 and at least decline until the end of February.

Blue Path: If the rally starting from 1748 can gain strength, the upward move may expand. In this case, ETH might only experience a retracement rather than a new downtrend in late February to early March.

In summary, whether following the red or blue path, the rally beginning at 1748 is most likely a correction of the previous decline rather than a new upward trend. The larger-scale rally is most likely to begin around late February to early March, according to Gann timing. More precise timing will be calculated after the current oversold rebound concludes. Interested friends, please stay tuned.