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.
ETH-3.7%
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defi_detectivevip
· 4h ago
It looks like a cleanup is needed; the 3300 hurdle is a bit tough.
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LiquiditySurfervip
· 01-07 05:53
The lack of volume is a problem; breaking 3300 this time is a bit uncertain.
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LeverageAddictvip
· 01-07 05:52
The 3300 level just can't be broken, the bears are holding strong --- Decreasing volume + divergence, this rhythm looks like a shakeout --- Another buy order at a high level, when will we see a real breakout --- What's the use of the MACD golden cross, the candlestick is speaking, this is just consolidation --- The moving average pattern looks nice, but unfortunately RSI is almost overbought, why is the risk so high --- Without volume confirmation on the 4-hour V-shaped reversal, I knew this wave wouldn't go far
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MelonFieldvip
· 01-07 05:46
Hmm... I hate rebounds that don't match the volume, with orders still being filled at high levels. It feels like jumping rope.
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MevHuntervip
· 01-07 05:24
The trading volume isn't matching up, this is outrageous, feels like we're about to get trapped again.
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