The Ethereum trend is linked to Bitcoin but has shown weaker performance in the early stages. On December 4th, it surged to 3240 before falling due to selling pressure, dipping to 3064 and then rebounding to around 3150, recovering most of its losses. Although the rebound pace has slowed, the long lower shadow indicates active buying at lower levels, and the overall structure appears more optimistic than Bitcoin, currently in a consolidation phase after an oversold correction.

Technical indicators: The hourly RSI has risen from a low of 35 to a neutral range of 55, completing the oversold correction. Previously, there was a bullish arrangement that broke through all moving averages and a golden cross pattern. The MACD bullish momentum had been continuously strengthening, and currently, it is positively influenced by the Fusaka upgrade, enhancing its practicality.

Operating suggestions

Core strategy: Keep buying with the trend: You can look for opportunities to go long in the 3100 - 3120 range. If the price pulls back to 3100 and stabilizes, it is a good entry point, with the initial target set at 3180 - 3220. Once broken, it can challenge the previous high of 3240.