Ethereum today (January 17th, 10:20 PM) is quoted at $3,298, with a 24-hour price change essentially flat, down only 0.1%. During this period, the price has fluctuated between $3,253 and $3,327, a typical narrow-range consolidation.

From a technical perspective, the daily chart shows a symmetrical triangle pattern, with EMA moving averages providing support below at 3135, and resistance above around 3310. The MACD indicator shows increasing volume signals, while the Bollinger Bands continue to narrow—indicating that the overall trend is not yet determined, but energy is accumulating. Moving to the 4-hour chart, EMA30 supports at 3255, with Bollinger Bands at 3215 (lower) and 3395 (upper). Although the MACD has a death cross, the green bars are narrowing, which usually suggests a rebound is brewing.

In terms of price levels, key support is at 3250 and 3200, while resistance levels are at 3320 and 3360. If the price breaks below 3250, focus should shift to the 3200-3150 range; conversely, if it breaks above 3320, the target moves toward 3360-3400.

For short-term trading, there are two strategies. To catch a bottom, consider entering a small position between 3250-3260 with a stop-loss at 3220, targeting 3300-3320. If the price doesn't top out here, aim for 3360. Another approach is to reduce positions at higher levels around 3310-3320, with a stop-loss at 3350, aiming for a pullback to 3280-3260. Position management is crucial: keep total exposure below 30%, and individual trades under 10%. In such volatile markets, strict risk control is essential; chasing highs and selling lows will only cause trouble.

Note that the US crypto legislation vote has been postponed to the end of January, and regulatory sentiment remains cautious, which can impact market sentiment. Additionally, Ethereum tends to move in tandem with Bitcoin. If BTC breaks downward, ETH will likely struggle to stay afloat, so keep an eye on the overall market trend when monitoring prices.