With ETH’s current price around 1912, it has followed BTC’s synchronized strength—overall it’s a strong rebound market, with plenty of bullish momentum.

On the 4-hour timeframe, price has been rallying all the way up from the lows and has already touched above 1910. It’s getting closer and closer to the strong resistance zone at the previous high of 1946; after continuously pushing higher on the 1-hour timeframe, the indicators have entered the overbought range, and there’s a short-term need for a pullback to digest—chasing higher carries relatively high risk.

In terms of trading, it’s safer to look for a pullback and then go long. The first support below is the 1890-1880 range; once it stabilizes, you can enter. Set the stop-loss below 1870. The first resistance above is 1920-1925, and the major resistance is 1940-1946 (the previous high). If price hits resistance and can’t break through, you can take a light position short. Overall the bias is bullish—trade with the trend, and manage position size with stop-losses in place. $ETH ‌