Evening of 12.4

ETH's current candlestick pattern shows a short-term consolidation with a bias toward a strong upward structure. On the 1-hour chart, there is a combination of small bullish candles and small bearish pullbacks, which is a "consolidating uptrend" pattern. Previously, the price surged quickly from 2983.76 to an intraday high of 3239.27, forming a wave of volume-driven increase. Afterwards, the price pulled back with small bearish and bullish candles, but did not break below the key support. The current price of 3201 remains above the middle Bollinger Band at 3169, indicating a healthy retracement after the rally.

Currently, the price is between the upper Bollinger Band at 3250 and the middle band at 3169, with the middle band sloping upwards, indicating a short-term bullish trend. If the price holds above the upper band, it could open up new upside potential.

KDJ indicator: The K and D values are in the neutral range, while the J value is turning downward, suggesting a short-term need for a modest pullback, but not yet entering the oversold/overbought area. MACD indicator: The DIF remains above the DEA, but the MACD histogram is narrowing, indicating slightly weakening bullish momentum, so the price may remain in consolidation in the short term.

Short-term trend is biased towards bullish, but beware of pullbacks. If support at 3169 can hold, the price will likely continue its consolidating uptrend in the short term and test resistance at 3250. If it breaks below 3169, it may retrace to seek support near 3088. It is recommended to consider light positions if the price rebounds to the 3240–3280 area, with targets around 3180–3140–3100.

The above is just personal advice for reference only. Please refer to Haoyu Shipan's strategy for specific guidance! $ETH #eth ‌