From May 14, $ETH ETH has been oscillating around the central range of 2460-2740, and this is still ongoing. During this process, a triangle formation briefly occurred, but it was later broken.

Since it is still oscillating around the central range of 2460-2740, we will treat it as a consolidation. As for whether it will go up or down after the consolidation, we will consider that once it breaks out of this range upwards or downwards; we should not make premature predictions.

The pullback level from points 7-8 in the chart is insufficient, with a small to large reversal occurring at position 8. For now, we view 8 as an upward movement on the 4-hour timeframe. Currently, the 26 moving average is providing resistance. In the short term, based on the bullish trend on the 1-hour and 30-minute charts, we continue to look for long positions. If there is a follow-up rise here, a 4-hour upward movement may emerge, with the overall 4-hour decline from 7 viewed as a consolidation reversal. If it goes down from here, we can only look at the 30-minute level for now.

Therefore, upward movement may be on the 4-hour level, while downward movement is on the 30-minute level. For now, we still look for a rebound; if it goes down first, we will treat it as a second test of the bottom starting from 7.