On-chain resilience and technological breakthroughs, the key positions behind the bullish weekly candle of Ethereum｜Three-level deduction👎

This week, Ethereum closed with a bullish candle, but the larger pattern remains within a rectangular oscillation range, and the directional choice is still unclear. On the daily structure, the price briefly broke below the W bottom neck line but quickly recovered, and has closed bullish for three consecutive days, showing the bulls' defensive willingness at key positions. However, the volume during the rebound process has been average, and upward momentum needs to be validated. The current price is operating near the midpoint of the rising channel and is facing strong resistance in the 3200-3250 area (where the descending trend line, upper edge of the rectangle, and upper track of the channel coincide). If it cannot break through this area with volume, the oscillation pattern is unlikely to change. The key support below is located near the lower track of the channel at 2890, which is also the lower edge of the rectangular range, forming a recent strong and weak boundary.

Looking at the four-hour level, the short-term structure is clearly operating within a rebound channel, with the price oscillating upward along the channel. On the technical indicator level, both MACD and RSI show a repairing upward trend, providing technical support for a short-term rebound. Future developments need to focus on the price's rhythm within the channel: if it can gain support at the lower track of the channel and build up strength, it is likely to test the upper track of the channel and the core resistance area on the daily line again. Conversely, if it breaks below the lower track of the channel, the rebound structure faces the risk of destruction and may return to the lower edge of the daily rectangle to seek support.

Intraday operation suggestions:

Short to 3040-3000 with a target of 3150-3100

Short to 3190-3230 with a target of 3150-3100

Today's focus: $BTC $ETH $SOL #美联储重启降息步伐 #加密市场观察