2026.3.17 ETH Early Morning Analysis$ETH

ETH surged from the 2085 low point all the way up to 2384 high, with gains approaching 300 points.

The 4H level presents a clear five-wave uptrend structure, with two main uptrend waves respectively from 2112 to 2248 and 2272 to 2384, completing sufficient pullback and reaccumulation in the 2233 to 2307 region in between. Current price 2371 is oscillating in the high zone of the second main uptrend wave. In the early morning, the market experienced a classic liquidity sweep—after the price surged to 2384, it quickly fell back to 2329, then V-rebounded back to 2371, forming a wide-range oscillation between 2329 and 2385.

From a structural perspective, the 4H major trend remains strongly bullish, with eight consecutive bullish candles in a row, EMA20 far above EMA50, and price holding firmly above all moving averages. However, the 1H level shows a warning signal: the 2384 surge and pullback forms a potential double top pattern; if the 2329 low is broken, it will confirm a 1H CHoCH shift to bearish. Currently, the core zone of long-short competition is between 2340 and 2385, with 2340 to 2350 being a strong demand zone (starting point of two V-rebounds in the early morning) and 2378 to 2385 being a strong supply zone (twice rejected at highs). The funding rate is -0.0014%, indicating slightly bearish sentiment but with minimal magnitude.

Today's trading strategy recommendations are primarily to buy on pullbacks. Do not counter-trend short when the 4H trend remains unchanged. Wait for price to retest the 2350 to 2355 demand zone and confirm a reversal before going long, or wait for a volume breakout above 2385 before chasing longs. Short selling should only be attempted with light positions when there are clear reversal signals in the 2380 to 2385 resistance zone.