$ETH
11.28 Midday ETH 1-Hour Market Analysis: Consolidation, Direction Approaches Decision
1. Market Overview
ETH continues to fluctuate within a narrow range around 3000, with the previous high of 3070 acting as a clear resistance, while the 2980–3000 area has repeatedly provided support, overall in a converging state, with short-term direction still unclear.
2. Technical Indicator Analysis
1. BOLL
The Bollinger Bands upper and lower bands are flattening, volatility is converging; prices are consolidating around the middle band, exhibiting a typical sideways structure.
2. MACD
Bearish momentum is gradually weakening, DIF/DEA are converging, in a weak trend state, leaning towards consolidation.
3. KDJ
After a golden cross at a low position, it is moving upwards, with short-term rebound strength, but further price cooperation is needed to break through.
3. Key Levels and Market Planning
Resistance Levels
3045–3050
3070 (breakthrough then look towards 3100+)
Support Levels
3000–2980
If broken, may test the 2920 area
4. Two Main Scenarios
Upward Scenario (Higher Probability)
After stabilizing at 3020–3030, challenge the upper band upwards, only breaking 3050 can open space towards 3070.
Pullback Scenario
If bullish momentum is insufficient, it may fall back to 3000–2980, and consolidate again.
5. Summary
ETH currently exhibits a clear consolidation structure, leaning towards a rebound in the short term, but to establish a strong trend, it must effectively break through the 3050–3070 area; conversely, if it breaks below 2980, the short-term will weaken.