ETH Technical Analysis:



1. Weekly Level: Yesterday's price broke upward, reaching the resistance at the upper boundary of the current bottom consolidation zone + Fibonacci 0.236 at 2150. Although the price is still within a downtrend channel, the long-term downward trend remains unchanged. However, there is a possibility of continued upward oscillation and rebound. Resistance levels to watch above: Fibonacci 0.382 at 2370 and Fibonacci 0.5 at 2560.

In summary, weekly resistance levels: 2150, 2370, 2560.

2. Daily Level: Yesterday's candlestick closed as a large bullish candle with increased volume, but the upper shadow wick fell back into the consolidation zone during the day. Therefore, intra-day resistance at 2150 still needs to be confirmed. If the price continues to stay above 2150, it can refer to the harmonic butterfly pattern + the FVG gap above + the upper boundary of the downtrend channel + weekly Fibonacci resistance at 2370.

Thus, if the price breaks above 2150 intra-day, consider going long; if it pulls back within 2150, look for a low entry based on the daily upward trendline. As long as the price does not fall below the fixed volume POC area at 1965, the upward trend remains valid. If it breaks below, continue to maintain sideways movement.

The Bollinger Bands still show a three-mouth opening and oscillation. Although the MA20 has turned upward, the structure of oscillation has not yet broken. To form a bullish trumpet pattern, a bullish candle needs to close today. Meanwhile, the middle Bollinger Band (MA20), the upward trendline, and the volume POC area are resonant supports.

In summary, bullish support is above 1965. As long as it does not break below, look for bullish opportunities; if broken, expect continued sideways movement.

3. 4-Hour Level: Yesterday, the price strongly broke through the triangle consolidation and reached the upper boundary resistance of the box. A bearish engulfing pattern appeared after the rally, indicating a potential pullback intra-day. Both KDJ and RSI are near overbought zones and pointing downward.

If the price continues to decline toward the triangle's upper boundary + upward trendline support around 2060, consider entering long positions in this area with stop-loss below the fixed volume.

From a technical perspective, Vegas support can also be referenced. Yesterday's price broke through Vegas, and today it may retrace to test it again.
ETH-0,31%
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