Overall, Ethereum is bullish. The daily chart has shown a V-shaped rebound and is firmly above the key level of 2500. The moving averages also show a bullish arrangement, indicating a strong trend. On the hourly chart, the level of 2560 has been tested three times without breaking down, and the MACD shows a bottom divergence. Additionally, the trading volume increased during the rebound, all of which are bullish signals. During the pullback, the trading volume shrank significantly, and the price did not break below important moving averages (7-day moving average at 2500, 30 moving average on the hourly chart at 2561), indicating strong support.
However, several risk points should be noted: the daily RSI is already at 72, close to the overbought zone, which may bring short-term pullback pressure; the hourly chart is still in a descending channel, and 2600 is a resistance level; the previous high around 2647 is also a technical resistance. Don't be too aggressive before breaking through.
Long strategy: If it pulls back to 2540 (dynamic support) or 2510 (strong support area), consider entering the market. The initial target is 2600 (breaking the descending channel). If it can break through, the next target will be 2650 (near the previous high). If it falls below 2490, don't hesitate, just stop loss and exit.
Short strategy: If it rises to 2600 (channel resistance) or 2650 (previous high resistance) and fails to break through, you can try to short. The target is 2540, and if it breaks below that, the next target will be 2500 (support area pullback). But if the price breaks above 2670, it indicates that the short judgment is wrong, so quickly cut losses and don't hold the position.
In simple terms, ETH is leaning bullish now, but don't chase the highs. Wait for pullbacks to support levels for lower entries, or short when it rebounds to resistance levels and stalls. Make sure to set stop losses at key levels and don't hold on stubbornly!
