Hello everyone, let's take a look at today's Ethereum market trends. First, let's look at the 1-hour candlestick chart; the Bollinger Bands are opening upwards. The candlestick is fluctuating at a high level above the middle line of the Bollinger Bands. The fluctuation range is between 3700 and 3730. The current opening of the Bollinger Bands corresponds to the range of 3755 to 3596, with the upward middle line corresponding to a price of 3675. There is short-term support at 3675 below.

The 5-day moving average and the 10-day moving average have crossed into a golden cross on the rise, corresponding to prices of 3713 and 3675, respectively. The short-term moving averages are crossing the medium and long-term moving averages from below, forming a small W bottom pattern. The 30-day, 60-day, and 120-day moving averages correspond to prices of 3677, 3653, and 3691, respectively. These three prices form a bottom support range.

The MACD is forming a small golden cross here, opening upwards, and bullish momentum is beginning to cause a slight rise in the market. The RSI is in the overbought phase, showing a slight tendency for a pullback while remaining at high levels.

Conclusion: ETH Analysis

Direction: High-level consolidation

Fluctuation range: 3700-3735

Upper resistance level: 3770, strong resistance level: 3850

Lower support level: 3600, strong support level: 3500

Current trend: High-level consolidation, with a tendency to test the middle line of the Bollinger Bands. The corresponding price is 3708. If it does not effectively break below 3700, the market will continue high-level consolidation, with a fluctuation range of 3735 to 3700.