3-17 Ethereum Market Analysis Geopolitical Risks Escalate, Rally Must Retrace, Short Positions Remain Unchanged

The situation in the Strait of Hormuz continues to heat up, with multiple countries refusing to send troops to cooperate. The market severely underestimates the risk-averse pressure caused by geopolitical conflicts, and panic sentiment could erupt at any moment. Overall, risk assets are under pressure, and the bearish outlook on Ethereum remains firmly unchanged.

Although the daily chart is supported by continuous ETF capital inflows and remains relatively strong, the 4-hour and hourly charts have synchronized rallies that broke through the upper Bollinger band. After a series of short-term surges, all indicators have entered overbought territory. The bullish momentum is gradually weakening, and there is a strong need for technical correction and consolidation. The priority is to focus on intraday pullback opportunities.

Trading Recommendations

Gradually short near 2370-2390, with targets around 2250-2300

Do not chase rallies in the short term, follow the trend to seize correction opportunities, strictly control risks, and steadily take profits.