ETH, Pullbacks Still Indicate Caution

Currently consolidating around 1800, the market is at a balance point between bulls and bears, with no clear bullish signal yet.

The four-hour short-term moving averages are diverging upward, forming a short-term support zone at 1720-1730. The Bollinger Bands are opening upward, with prices staying just below the upper band at 1852. The channel continues to expand, and short-term bullish momentum is dominant. MACD's upward momentum is weakening in the short term, but this does not indicate a stop or reversal. Currently, strong resistance is at 1970, with short-term support at 1760 and strong support at 1730. As long as it does not break below 1730, the four-hour rebound structure remains intact, and further pullbacks are likely to continue bullish.

Short-term reference: 1760-1730 bullish, stop-loss at 1700, target 1850-1900.