Ethereum's recent movements are indeed quite interesting. Yesterday, the net outflow from exchanges was 4056 ETH, with three major exchanges, compliant platforms, and another exchange collectively withdrawing nearly 9500 ETH. What does this indicate? To put it simply, smart money is transferring out of exchanges and holding long-term. Historical experience tells us that whenever there is a large-scale withdrawal wave, it is usually a signal before a price increase. The news sentiment is relatively bullish, and funds are quietly positioning themselves.

Looking at the technical side, it’s even more intriguing. On the 4-hour K-line, the BOLL middle band is firmly supported around 318. Regarding MACD, both DIF and DEA are trending upward from high levels, although the histogram bars are not yet thick enough, a golden cross pattern has already emerged. The three RSI values are all above 50, indicating a clear market bullish sentiment. Most importantly, the KDJ, with a K value of only 56.67, is far from overbought, leaving room for further upward movement.

In terms of levels, the resistance is at 3220, the key level at 3060, and support at 2930. The current price remains above the key level, and the trend line has not been broken. As long as it does not fall below 3060, the rebound momentum will continue. From a technical perspective, the short-term outlook is bullish. If you are holding positions, you can observe the subsequent movements. For short-sellers, you need to set your stop-loss properly, as the current pattern is not very friendly to bears.