Staying up at 2:30 AM to watch the market, Ethereum is currently priced at 3150. I’ve noticed something interesting—the northbound momentum stalled after hitting clear resistance at 3170. The main force’s move is obvious: there’s no intention to push hard in the short term, so it’s more likely to consolidate around 3170 or even have a slight pullback.

Yesterday’s pullback actually wasn’t deep enough, so the technical correction hasn’t fully played out, yet the market went straight into two days of a one-sided rally. The previous strategy was: hold long positions, as long as the pullback doesn’t break 3170; if it does, take full profit and wait for the next opportunity. Anyone who kept up with the rhythm these past two days should have made good gains.

Looking at the daily chart data: before publishing, the highest touched 3240, the lowest pulled back to 3130. The EMA trend indicators are starting to converge, EMA15 has moved up to 3040, EMA30 is consolidating at the golden ratio 0.5 line (3170), and the Bollinger Bands’ middle line is holding at 2980, with the upper band pausing at 3240. There is definitely a technical need for a pullback.

MACD continues to increase, but a major bullish divergence hasn’t formed yet, indicating the market hasn’t fully turned bullish—it’s just hit the first stage high. The next mid-to-long-term target area is at the trend top of 3560 and near the Fibonacci 382 line at 3590, but there’s no rush to look that far ahead right now. Focus on the strength of the pullback first.

Switching to the 4-hour chart, the ascending flag pattern is clear, currently stuck at the neckline. EMA15 is about to move up to 3100, and all indicators are starting to alternate upwards, forming a four-line golden cross bullish structure. But note that there’s a divergence at the top of the MACD, with DIF and DEA contracting at high levels, especially with clear signs of profit taking after hitting 3240. In the short term, shorting around 3200 could be profitable, but don’t get greedy—take profit when you can. The core idea remains to buy on dips.

**Short-term trading reference:**
Short position trial: 3200-3250 range, if it breaks look to 3300, stop loss 50 points, target 3150-3100, with extension down to 3050-3000 if broken

Long position trial: 3100-3050 range, defend 3000, stop loss 50 points, target 3150-3200, with extension up to 3250-3300 if broken

(Trade based on real-time order book, strategies are for reference only, trade at your own risk)