Ethereum surged upward and then pulled back to build momentum, with the uptrend still intact.



From early yesterday morning to now, Ethereum has shown a structure of “rising high then falling back—oscillating consolidation.” The price started around 2320, pushed up to the 2398 high, then came under pressure and pulled back; it is currently consolidating around 2350.

The bullish trend continues on the 4-hour timeframe. In the short term, keep an eye on the effectiveness of the support zone. If the price retraces and stabilizes, there is still momentum for another push higher. Currently, it is holding above the upper-middle band of the Bollinger Bands, maintaining a slightly bullish oscillating structure.

Go long directly around 2320, with the first target at 2400. If it breaks through, aim for 2480.
$BTC $ETH
BTC1.22%
ETH0.13%
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