7.2 ETH Analysis

On the hourly chart, the Bollinger Bands overall maintain a bullish upward channel: the lower band continues to rise steadily. After a prior spike to 1775, the price pulled back and moved sideways above the middle band. The upper band flattens, forming a short-term pressure band. The underlying basis of the bullish trend is still present, but upside momentum has clearly weakened. The accompanying KDJ three lines are sticking together and winding around each other; the values are all in the mid-range, with no clear bullish or bearish divergence signal. This is a phase of post-rally momentum dulling and consolidation.

Overlaying a 15-minute convergent oscillation structure creates cycle resonance. In the smaller cycle, it is pressured around the middle band with a weak rebound, while the larger cycle is consolidating sideways at high levels to build up energy. The anchor points for the upper and lower ranges are 1775 as resistance and 1744 as support. Both the larger and smaller cycles have fallen into grinding through the remaining trapped positions; volatility continues to contract, and there is insufficient impetus for a one-way market. In the short term, range-bound oscillation is dominant. You need to wait for the hourly KDJ to complete divergence and for the Bollinger Band width to expand before a new wave of swing trend can emerge; right now, range-based swing trading is more suitable.

Trading suggestion: 1770-1800🈳, target 1700-1600.