Ethereum's market today is like a roller coaster; it surged to $1800 in the morning only to be knocked down, hitting a low of $1740, and then rebounded to around $1790 by the end of the session. There are three key points you need to pay attention to in this market:

First, the $1800 level has been unable to break through for three consecutive times, just like a high jumper who hasn't cleared the same height three times, indicating that there is indeed significant pressure at this level. However, each time it retraces, the low point is higher than the previous one, suggesting that the bulls are gradually building a base.

Second, the technical indicators are interesting. The RSI has rebounded from the oversold zone, which is somewhat inconsistent with the price movement; this kind of divergence often indicates a possible rebound. However, the MACD hasn't caught up with the rhythm yet, and the trading volume isn't large enough; currently, the daily volume is 8.5 billion, which needs to be increased to 1.5 times for any real action.

Third, the Bollinger Bands are narrowing, and it is currently fluctuating within the $1720-$1820 range; this often indicates that a change in trend is imminent. Looking at the hourly chart, after five consecutive bullish candles, a doji appears, and the upper shadow is getting longer, suggesting that the bulls are losing strength, and a short-term pullback to $1760 for support may occur.

Trading advice:

Those with a strong risk appetite can consider buying a small position in the $1760-$1770 range, with a stop loss below $1740, and initially target whether $1800 can be broken. Remember to play lightly; this market is like walking a tightrope, so be careful.