ETH

It is currently 11:10 AM Beijing time. Let's analyze the current trend of Ethereum.
Bollinger Bands: On the 4-hour chart, the current price is above the upper band of the Bollinger Bands, breaking out of the upward channel. It faces resistance at the 120-day moving average, which is also our first effective resistance level for a short position. We will see if it can break through and stabilize. If it can break through again, the next target is 3060. The 4-hour Bollinger Band width is widening, and the MA lines are arranged sequentially, indicating a unilateral upward trend. On the daily chart, the 5-day moving average has not fully turned upward yet, with resistance from the middle band and the 30-day moving average. The market will look to see if it can break through and stabilize. If the upward push fails to break through again, the price will decline.
On the 1-hour chart, the price is outside the Bollinger Bands and has been moving above the 5-day moving average. If it does not break below the 10-day moving average effectively, the upward trend will continue. Currently, the short-term moving averages on the hourly chart are forming a golden cross and moving upward, indicating a unilateral upward trend. The short-term support level is around 2960.
MACD: On the hourly chart, MACD is above the zero line with a golden cross, indicating increasing bullish momentum. On the 4-hour chart, the two lines are about to cross above the zero line, further strengthening the bullish momentum.
RSI is in the overbought zone, with values between 77-74.
Conclusion: Sideways consolidation at high levels.
Resistance levels: 3030-3170-3270
Support levels: 2890-2810-2730
Long position strategy at high levels: Short positions around 3030, add on dips at 3170, stop loss above 3270.
Short position strategy at low levels: Long positions around 2890, add on dips at 2810, stop loss below 2730.