From the 15-minute order book, the ETH price started a reversal from the low of 1613, riding on the lower Bollinger Band. Throughout the entire move, it surged upward in increasing volume along the upper Bollinger Band channel. The Bollinger Bands continued to open and expand persistently, fully unlocking the bullish rising channel. After rallying up to 1725 and approaching the upper band at 1726, it met resistance and then moved sideways slightly. This is only short-term profit-taking and a consolidation washout—not a trend reversal. In the short term, strong support sits at 167715, on the Bollinger middle band—bulls’ lifeline. The medium-term bottom support is 1628. The short-term resistance overhead is 1726; if price holds above it, it can open up room for new highs.

At the moment, the main theme of a loose trading environment has not changed. The short-term sideways range is only a continuation of the rally. As long as the 1677 support is not effectively broken downward, every pullback is a chance to buy the dip. Go long following the trend without guessing the top. If you short against the trend, you must be on high alert—floating losses may keep widening!