$ETH Breakout and subsequent consolidation, exploring the trend direction from daily to hourly!
First, looking at the daily chart, MA7 and MA30 have formed a golden cross, and the price has stabilized above the short-term moving average for several consecutive days, indicating a strong trend. The Bollinger Bands are widening, with the middle band providing support around 2500, and the price is in a strong area near the upper band.
Although the MACD red bars have decreased, it is still strongly moving upwards, with no death cross or reversal, so the bullish trend on the daily chart is intact. Currently, it is a pullback consolidation, and the structure is healthy.
On the four-hour level, the candlestick retreated after peaking at 2738 and is now oscillating around the middle band of the Bollinger Bands, with a controllable pullback range.
The moving averages are well-aligned in a bullish formation, with no death cross between MA7 and MA30, and the structure is strong. The MACD shows signs of divergence but has not broken below the zero axis, remaining in a strong trend recovery state. I believe the short-term is gathering strength; if the middle band support holds, a second upward attack is very likely.
On the hourly level, after high-level oscillation, there was a quick pullback, finding support at 2640. The MACD green bars are decreasing, and the fast and slow lines are converging, showing signs of a second golden cross.
The bullish-bearish boundary is at 2610 - 2620. A breakout above 2670 has a high probability of challenging the previous high, so the hourly chart is in a short-term handover phase. A pullback followed by a bullish engulfing candlestick would be a starting signal.
In summary, ETH surged to 2738 after breaking 1800, the momentum has been released and it is entering a consolidation phase, but the daily chart has not broken down. The four-hour and hourly charts are in a healthy recovery cycle, with a good structure.
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