$ETH

The recent short-term pullback in ETH is just a shakeout during an ongoing uptrend. The overall long-term structure remains intact. Each retracement to be followed is a low-buy setup window.

On the fundamentals side, the staked and locked volume is stable, whales continue accumulating coins at low levels, circulating supply tightens, and sell pressure below has sharply weakened. Combined with expectations for ecosystem upgrades, the medium- to long-term support is strong.

On the four-hour cycle, the lows keep rising. After retesting key support, buy-side demand is clearly stepping in. The MACD bearish green histogram continues shrinking, bullish momentum is gradually recovering, and there is limited downside room in the short term.

Trading recommendation: go long in the 1790-1800 range, with targets at 1820, 1850, and 1890.