Ethereum short-term trend is relatively strong: the price rebounded from the low of 1977, breaking through the upper band of the Bollinger Bands, indicating that bullish sentiment is dominant in the short term with strong upward momentum.

Facing correction pressure: after a rapid surge (reaching a high of 2041), it is currently oscillating around 2024, and the candlestick pattern shows signs of a pullback. If it cannot hold above 2020, it may retest the middle band of the Bollinger Bands (around 1995) for support.

Key levels:

Support levels: 2,018 (near the upper band of the Bollinger Bands) and 1,995 (middle band of the Bollinger Bands).
Resistance level: 2,041 (today’s high).
$ETH
Only by re-breaking 2041 can we confirm that this correction has ended and a new upward wave can begin.

Trading suggestions (for reference only)

Long position strategy: Currently in a correction phase, it is not advisable to chase the high. Focus on support in the 2000-2010 range; if it stabilizes here without breaking, consider a light long position with a stop loss below 1980.

Short position strategy: If the rebound is weak and the price cannot re-break the middle band of the Bollinger Bands (2065), consider shorting around 2040 to target further correction.

Risk warning

Cryptocurrency markets are highly volatile. Although the current trend is upward, high-level oscillations can lead to corrections. If it breaks below the middle band of the Bollinger Bands (1995), it may indicate the end of the short-term rally, shifting to consolidation or decline.