After ETH bottomed out around 1,751, it then launched a strong one-way rally, surging as high as around 1,945. It is now slightly pulling back and consolidating, currently around 1,921.

In the short term, it has been holding steadily above the Bollinger middle band. The Bollinger Bands are overall widening upward; the larger trend is clearly in a bullish direction. What’s happening now is only a brief pullback and consolidation after a strong surge, with no reversal into a bearish signal.

Short-term outlook:

If the pullback near the Bollinger middle band at 1,900–1,885 stabilizes without falling further, you could look for a rebound. On the upside, the first target is around the prior high at 1,945. After breaking above the upper band at 1,953, it could continue to run higher again. If the pullback does not break the middle band, the main approach is to go along with the trend and hold longs.

When the price surges and gets close to the upper Bollinger band around 1,953, it tends to stall, and a long upper shadow candle is likely to print. You could consider taking a small-position short-term bet on a pullback. Support lies below at 1,920 and 1,900. With the bullish trend structure in place, short positions should only be taken as short-term trades, not held for the long term.

Personal view, for reference only!#ETH