ETH 1-Hour Key Position Game, Breakthrough Imminent? My Views Are as Follows
The current 1-hour chart shows that ETH is oscillating near the middle band of the Bollinger Bands, with the MACD momentum bars hovering near the zero axis, indicating a stalemate between short-term bulls and bears. The price is repeatedly testing within the key support and resistance range, with slightly reduced trading volume, suggesting that the market is waiting for new directional signals.
Technical Analysis:
The contraction of the Bollinger Bands indicates a decrease in volatility, and a direction is about to be chosen. If the price stabilizes at the middle band and breaks upward with volume, it is likely to challenge the upper band.
The MACD fast and slow lines are converging; if a golden cross forms with increasing volume, the probability of a short-term rebound increases.
On-chain data references:
Recently, the holdings of large addresses have slightly increased, and the outflow of ETH from exchanges has shown a slight increase, indicating that large holders are accumulating at the current position, with strong support below.
News Front:
The market is still digesting the progress related to ETFs and macro sentiment. If there are subsequent favorable catalysts, the speed of capital return may accelerate.
Comprehensive Judgment:
I believe the probability of ETH forming a short-term bottom at the current position is high. Once it breaks out of the upper boundary of the current oscillation box with volume, it is likely to initiate a rebound at the hourly level. I will pay close attention to the volume accompanying the breakthrough; if confirmed effective, I will follow up with short-term bullish positions.
Key Positions:
Support: The lower edge of the recent dense trading area in the chart
Resistance: The upper band of the Bollinger Bands and the previous high area
The view is very clear: if support holds, continue to watch for a rebound; if it breaks out with volume, add positions and follow up. The market always rewards those who are patient and logical, waiting for signals!
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