ETH

After consolidating at a low level yesterday, it rose again, failing twice to break through 3000. Currently, both the resistance at 3000 and the support at 2900 are quite strong. The price is now moving within a range of 2960 to 3000 with oscillation.
Technical Analysis
Bollinger Bands 1-Hour Analysis
The Bollinger Bands are contracting and expanding upward, with the upper band at 2997, the middle band at 2973, and the lower band at 2948. The candlestick broke above the middle band at noon yesterday, then broke above the upper band at 4 PM. It continued to move upward along the upper band, then again broke above the upper band at 10 PM, followed by a pullback and oscillation between the middle and upper bands.
MA 1-Hour Analysis
MA5 corresponds to a price of 2970, MA10 also at 2970, and MA30 at 2961. MA5 and MA10 have broken above MA30, and the candlestick has stabilized above MA30, indicating a bullish outlook.
MACD 1-Hour Analysis
Both lines are above the zero axis. The fast and slow lines formed a death cross at 3 AM, indicating decreasing bearish momentum. Currently, the lines are crossing and showing a bullish golden cross trend.
RSI 1-Hour Analysis
The lines formed a golden cross during the oversold phase at 6 AM. The fast line is now in the normal range, and the lines are opening upward.
Comprehensive Analysis
Currently, the price is oscillating directly between 2960 and 3000. The resistance at 3000 is quite strong. Yesterday’s upward breakthroughs failed to hold, and the current pattern is a wedge with decreasing amplitude. MACD and RSI indicators suggest a potential upward movement in the future.
Resistance: 3000
Support: 2960
Strategy: Long positions at high, open longs near 2960. If the price continues to fall to around 2920, add positions at 1:1/2/3 ratio. Stop loss if it effectively breaks below 2900. If the upward momentum toward 3000 is strong, consider taking profit at 3060.