#ETH

Conclusion: Volatile upward movement, leaning towards a downward correction

Warm reminder: Resistance and support levels can both serve as entry points (averaging down points)

Upper resistance: 2960/3040/3120

Lower support: 2890/2788/2720

Recommended trading strategies:

Long position strategy: If the rebound fails to firmly break above 2960, establish a short position near the initial entry point, with additional entries around 3120. Set stop-loss above 3120 after a confirmed breakout.

Short position strategy: If the pullback does not effectively break below 2890, establish a long position near the initial entry point, with additional entries around 2720. Set stop-loss below 2720 after a confirmed breakdown.

(Adjust stop-loss and take-profit according to your own position)
Bollinger Bands: The current 4-hour chart shows a tightening trend of the Bollinger Bands, with the three lines corresponding to price levels 2830--2918--3006. The current hourly chart shows Bollinger Bands converging, with the middle band trending horizontally upward, and the three lines corresponding to 2888--2920--2951.

The 4-hour chart's short-term MA5 is turning upward, with the market currently trading between MA5 and the middle band. The pullback does not break below the MA10 at 2888, indicating a potential second upward move. The hourly chart's MA5 is turning downward, with the market currently trading below MA5.

MACD Indicator: The MACD lines on the 4-hour chart are below the zero line, both lines are rising, and the bullish momentum bars are showing signs of strengthening. On the 1-hour chart, both lines are above the zero line, with the fast line about to form a death cross, and the bullish momentum bars gradually weakening.

RSI Indicator: The RSI is currently in overbought territory, corresponding to prices 99--97.