ETH shows a short-term pullback, but that does not mean this rebound trend has ended. More often, it is a stage of consolidation and digestion of profits within the ongoing up-move. Price has briefly dipped below the Bollinger mid-band, which is a normal pullback to absorb gains. Although MACD temporarily forms a dead cross and green histogram bars appear slightly, the green bars are limited in volume, and bullish momentum has not been completely exhausted. There is a possibility that the histogram will quickly narrow and then turn upward again. KDJ turns down, but it has not entered the oversold zone yet, indicating the room for further decline is relatively limited. The key short-term dividing line remains the Bollinger mid-band. If prices can subsequently rebound with volume and recapture the mid-band from above, then this pullback is simply accumulation during the uptrend, and the market will restart its rebound. The key support to watch below is around 2415—this is the lifeline of the current rebound. As long as this level holds, the bullish structure remains intact, and after the pullback is properly completed, conditions for another push higher will still be in place. Overall, the current situation is a pullback within an uptrend and consolidation; it is not a trend reversal into a bearish outlook. As long as 2415 is not broken decisively, the medium-term mildly bullish scenario will not be damaged. We’ll just wait for stabilization, which still leaves room for an upside assault.
Ethereum reference: go long at 2440, target 2475, defense 25 points.
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