#数字资产市场观察 Ethereum's recent price movement is quite interesting. After reaching 3070, the price started to retrace and is now in a sideways consolidation phase.

A typical W-bottom has formed on the daily chart——the 2763 on November 24 and the 2888 on the 26, both of which are deep dips. More critically, on the 4-hour chart: the hammer candle with a long lower shadow at 8 PM on the 27th, followed by three consecutive bullish candles confirming, directly broke through the 3050 neckline. The moving averages are starting to align for a bullish trend, with the price stabilizing between the EMA7 at 3018 and EMA30 at 2950, but the EMA120 at 3119 above is a bit of a hindrance.
In terms of indicators, the 4-hour MACD has formed a golden cross again above the zero axis ( DIF 42.78 DEA 35.31). The daily MACD histogram has been in the green for 5 consecutive days, and although it is still below the zero axis, the strength of recovery is getting stronger day by day.
But don't get too excited. The price may very likely test around 2600 again, so be mentally prepared for that. Currently, although Ethereum's volatility range has increased, it's stuck at this difficult position near the daily midline, and until it breaks through completely, the up-and-down fluctuations will continue.
The trading strategy is still the old method: short when it's high and long when it's low. Pay close attention to the resistance zone at 3100-3130 above, and 2930 is a good entry point for long positions below.
Reference strategy: You can place short positions in the range of 3060-3105, looking below 3000.
$ETH