On an Ethereum hourly timeframe, the price surged higher and then pulled back for adjustment. In terms of indicators, however, the MACD remains above the DEA line; the short positions’ green histogram has rapidly narrowed, and bullish volume has begun to release again, albeit slightly. The KDJ has turned upward from a low level: the K value is 49.58, and the J value has rebounded to 24.72, meaning the short-term downward momentum has been fully absorbed. At present, as long as the hourly candle closes back above the Bollinger Band middle line, this pullback can be considered only a technical retracement within an ongoing uptrend. Support on the downside is at 2680. Only if the price breaks below the middle band with increased volume and continues to move downward will this rebound structure be considered invalid.
ETH midday reference: go long at 2702, target 2742, with a 30-point risk limit
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