$ETH Evening Silk Road and Suggestions

The attitude on the hourly level, according to Fibonacci, has already reached and slightly exceeded the 1:1 target level of this pullback. After reaching the Fibonacci 1:1 retracement target, it started to rebound upward, and a W-bottom pattern appeared inside the triangle. Currently, the W-bottom has formed, the triangle has been broken through, and it has successfully pulled back above the 2306 resistance level. Next, as long as the attitude retraces without falling below the 2306-2300 support zone, it will continue to surge upward, aiming for the 2345 and the positions indicated by the yellow arrow, as well as 2390. Breaking through 2390 will naturally lead to the 2422 level circled in the red box. Conversely, if the attitude retraces again and falls below 2300, it will retest the lower support at 2263. If this level holds, it will form a double bottom on the hourly level and oscillate upward. If it directly breaks below 2263 to form a new low, then look for a reversal signal at the Fibonacci 1.618 level!

Volume-supported breakout above 2316, pursue long positions on the right side; volume-supported breakdown below 2298, pursue short positions on the right side. Pay attention to volume changes and set stop-loss orders properly.
On the hourly level, stabilize above 2316 and look upward toward 2345-2379.
On the 4-hour level, break below 2300 and look downward toward 2263-2218.

On the daily level, yesterday’s movement was really shocking—almost broke the flag pattern, but a rebound occurred. If the daily flag pattern is truly broken, it will be a real disappointment. Currently, the daily downward risk has not been eliminated; only if the daily price reclaims and stays above 2377 will the downward risk be fully lifted, and the daily chart can then move into a rebound. Everyone should pay attention to the 2377 level above and the lower boundary of the flag pattern below, as these are the key levels that determine the fate of the attitude.
$ETH