The short-term bullish view on Ethereum remains unchanged. Ethereum is repeatedly oscillating and consolidating around 1600. Although the trend seems caught between a rock and a hard place, the bottom formation is actually nearing completion.

Many holders lose patience during the prolonged oscillation, frequently stopping out and handing over low-priced chips, which instead provides opportunities for major players to accumulate at low prices. Those who are on the sidelines hesitate to act, easily missing the optimal window for bottom positioning.

Technically, the daily decline has limited space. The suppression effect of short-term moving averages continues to weaken. The Bollinger Bands are gradually tightening downward. On the 4-hour chart, it oscillates in the 1550-1640 range. Bearish momentum continues to decay, and the probability of a reversal upward continues to rise.

There is no need to worry about short-term gains or losses now. Stabilize your position rhythm and add positions on dips. Endure this period of shakeout and consolidation. The subsequent bullish rally is worth looking forward to in the long term.

Trading suggestion: Go long near 1600-1570, target 1650-1680, breakout targets 1700 and 1740. Set your stop loss based on your own position.
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