【ETH Market Observation | Key Range Defense】

Recently, the volatility of Ethereum has significantly increased, peaking at 2788, but then retracing back to around 2650. From the 4-hour chart, there is a clear divergence between bulls and bears in the short term, as the market enters a critical game period.

🔎 Technical Analysis:

Upper Resistance: The area around 2780~2800 is the high point zone of this rebound. There is significant resistance here, and there are currently no signs of a breakthrough.

Lower Support: The area around 2600 has been tested multiple times, with rebounds occurring each time it dips, indicating that there is some buying support.

Pattern Signals: This recent spike and retreat have resulted in a long upper shadow on the candlestick chart, showing that the buying enthusiasm is starting to cool down, and there is a need for short-term adjustments.

Moving Averages/Indicators: The price is above the mainstream moving averages but is pulling back in the short term. MACD and RSI are neutral, waiting for a new direction.

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⚠️ Key Levels and Operational Strategy Reference

Upward Focus: Only by stabilizing above 2780~2800 will there be a chance to challenge 2850 and higher targets; otherwise, there is significant pressure above, making it prone to repeated fluctuations.

Downward Observation Level: If the area around 2600 is lost, it may seek new support at 2550 or even 2500 in the short term.

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Summary of Views

Currently, ETH is entering a high-level consolidation, with limited short-term upside and downside potential. It is recommended to pay attention to the changes at these two key levels: 2780 and 2600.