ETH is currently in a consolidation range, below are the key levels and trend analysis:
1. Support Area:
The green area in the chart (3157-3100) provides strong support. Recently, the price has repeatedly found support in this area, forming a clear bottom structure.
Further support below is around 3044; if this level is broken, it will enter a lower range.
2. Resistance Level:
The current price is attempting to break through 3370, which is both a previous high point for multiple rebounds and a key level for the current bulls.
Important resistance above is at 3674; if broken, it may further test around 4040.
3. Pattern Analysis:
There are multiple signs of double bottoms or triple bottoms at the bottom, indicating strong buying pressure below.
If a short-term rebound continues, it may push towards 3370 or even higher along the direction of the white arrow; otherwise, if it is blocked at the current position, there is a possibility of a pullback to support.
4. Trading Advice:
Short-term: If it successfully stabilizes above 3370, a light long position can be taken, targeting around 3674.
Risk: If the price falls below 3100, it may further test 3044 or even lower levels, so stop-loss management must be taken into account.
Overall, market sentiment leans towards a consolidation rebound, but the effectiveness of key support and resistance levels still needs to be monitored.