Ethereum's current price hovers around 3130. During the early hours Beijing time, the northbound entry point touched 3070, but the market did not accelerate as expected and instead entered a sluggish trend. At this stage, friends engaging in short-term swings might consider taking a break. If your strategy is trend-following, the northbound direction is still worth holding—key is to set proper stop-loss levels to keep risks manageable, and the rest is left to time to play out. The previous high of 3300 is worth paying close attention to.

Looking at the daily K-line. Before the report, the amplitude was between 3170 and 3060. I mentioned yesterday that the 3170 level faces resistance; it coincides with the 0.5 Fibonacci retracement and the EMA60 trend convergence point, around 3160. Currently, the EMA indicator shows signs of contraction upward, MACD is in an expanding phase, and both DIF and DEA are above the zero line, contracting. Implication—if the 3170 barrier cannot be effectively broken, the market is likely to continue oscillating around 3100. The middle band of Bollinger is at 3060, with the upper band at 3275.

The four-hour level is testing repeatedly. The bottom has touched the strong/weak boundary at 3060, and the top has reached near 3170. Currently, the main force is consolidating at a high position along the EMA trend, around 3120, indicating there is still momentum for northbound movement. MACD has already gone through a volume expansion phase; now, DIF and DEA are gathering near the zero line. If the main force launches another attack on the previous high of 3160, bulls could potentially push straight to 3300. Therefore, the main direction is recommended to be northbound. Traders who haven't entered yet might wait for a pullback confirmation before acting. If it breaks below 3060, refer to yesterday’s approach.

Short-term operation reference (based on real-time data): If support holds at 3100 to 3050, go north with a 50-point stop-loss, targeting the 3150 to 3200 range first; if broken, look toward 3250. If resistance at 3270 to 3320 is effective, consider going south, also with a 50-point stop-loss, targeting back to 3220 to 3170; if broken, continue to 3120.

Market data will keep updating. There may be delays in publishing this article; always rely on real-time quotes for actual operations. These are just reference ideas. Investment involves risks; operate cautiously.