Is the short-term surge of ETH a false move or a real breakthrough? Key resistance levels overview, 2,710 is the real bomb.
Ethereum's recent rebound started from the liquidity accumulation zone of 2,517 to 2,540, successfully reclaiming the 2,620 level, with a short-term increase of over 3%. But don't rush to celebrate, this is not a takeoff, it's a probe.
Currently, ETH is trying to challenge the bullish breakout point (BOS) of the 4-hour structure. The smaller level breakout has been established, with the price standing above the 20-day and 100-day moving averages, approaching the 50-day line (2,635) and the upper Bollinger band. But problems also arise:
The trading volume is weak, and the buying momentum is lacking;
There is significant resistance above, with the daily trend line, Fibonacci 0.618 resistance, upper Bollinger band, and key high point EQH... all in sight.
And most importantly, the threshold of 2,710 has not been crossed, so the overall structure remains a "range-bound consolidation."
