【$ETH Signal】1H level rebound trading, short covering window

$ETH 1H level MACD histogram turns positive, but bullish momentum is shrinking. The 4-hour price is suppressed below the middle band of the Bollinger, and the overall structure remains weak. Market depth data shows buy orders dominate, but active sell volume is larger, creating a contradiction.

Price repeatedly tests the range between 2278 and 2317, with decent support below.

The current price around 2289.5 can be lightly longed, with a stop-loss placed above 2348.6. The first target is 2256.5, and the second target is 2225.9.

After reaching the first target, halve the position, and move the remaining stop-loss to the breakeven point. If the price cannot hold above 2290, consider exiting.

Negative funding rates suggest short positions are crowded, fueling a technical rebound. The 1-hour RSI is near 45, neither overbought nor oversold, leaving room for the price to revert to the moving average. The negative MACD histogram on the 4-hour chart is shrinking, indicating short-term exhaustion of bearish momentum. The risk-reward ratio is acceptable, but caution is needed as the overall trend has not reversed; this is just a short-term contrarian play.

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