$ETH Midday Market Analysis and Trading Ideas!
Market Review: ETH is currently maintaining a sideways range between 2900–3060 on the 30-minute timeframe; the short-term 5-minute timeframe is fluctuating in the 2920–2945 range, with slight false breakouts occurring.
The current 5-minute small level has been broken to the upside, entering a rebound phase, with short-term resistance around 2965 (corresponding to the previous high on the left). If it breaks out with volume, the target is 3075.
Short Position Idea: If the price fails to effectively hold above 2965 and shows signs of resistance and decline, a light short position can be established in the 2960–2965 range;
If it breaks below 2945, additional positions can be added, targeting 2920–2900, and if it breaks down, it can continue to look towards 2780, moving the stop-loss to protect profits.
Long Position Idea: If the price strongly stabilizes above 2965 with accompanying volume, a short-term long position can be taken, targeting the 3030–3058 range.
During the sideways phase, false breakouts are frequent, it is recommended to strictly implement stop-losses, control positions, and focus on quick entries and exits in the short term.