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ETH's recent market movement still looks interesting from the daily chart perspective. The moving average alignment is quite standard for a bullish pattern, with the price steadily staying above the moving averages; the red bars on the MACD are shrinking, indicating that the upward momentum is weakening; RSI is approaching 68, nearly hitting the overbought level; the Bollinger Bands are tightening, with the upper band facing significant resistance around 3300.
Looking at the 4-hour chart, a V-shaped rebound has emerged, but the trading volume can't keep up, which is a warning sign. RSI has shown a top divergence, and long upper shadows frequently appear on the candlesticks, indicating strong resistance from the bears at high levels. The upward channel framework is still intact, but some consolidation is needed in terms of pace.
On the 2-hour chart, the MACD has just experienced a golden cross, suggesting some strength in the rebound, but the trading volume is decreasing, making a quick breakout unlikely. The 1-hour chart is even more obvious—long upper shadows are common, which essentially means that the high levels are absorbing buy orders, and there are no conditions for accelerated upward movement. Currently, sideways consolidation remains the main theme.