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The current market shows that Ethereum is in a bullish oscillation channel, initially presenting a potential three-wave upward driving structure. The price is continuously oscillating and consolidating below the key resistance area of 2520 - 2570, indicating that the market has entered a tug-of-war stage between bulls and bears, with short-term directional momentum slightly weakening.

Key pattern observation:

Ascending triangle: The price repeatedly meets resistance at the 2570 line, while the lows gradually rise, forming a typical ascending triangle consolidation pattern. Recently, an effective top divergence structure has appeared in the local candlestick combinations, indicating short-term bullish momentum exhaustion and a technical correction demand!

Breakout momentum prediction:

To effectively break through the strong resistance area above 2570 and initiate a new round of upward attack, the market needs to build more sufficient bullish momentum. From a technical perspective, a healthy accumulation process may include a retest of the core support area at 2450 - 2520. The strength of this area will be key to determining the strength of the market in the future.

Technical indicators confirm:

MACD indicator: The DIF line completed downward divergence below the zero axis, and is currently gradually approaching the DEA line, with volume bars continuously shrinking. This signal clearly indicates that the market has entered a consolidation phase, with short-term unilateral momentum fading.

Bollinger Bands indicator: The price has tested the middle track of the Bollinger Bands multiple times without stabilizing and has retreated, clearly confirming the lack of upward breakout momentum in the short term.

Tang Seng's viewpoint:

The ETH 1-hour chart maintains a slightly bullish oscillation structure, but is facing strong resistance at 2570 in the short term. The market needs to undergo sufficient turnover consolidation in the support area of 2450 - 2520 to build momentum. A successful breakout and stability above 2570 is expected to open up upside space; conversely, if the support at 2450 is lost, it may trigger a deeper correction.

Technical analysis should also be combined with news and accurate points for usage.

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