2026.3.17 ETH Morning Analysis $ETH

ETH rallied from a low of 2085 to a high of 2384, with gains approaching 300 points.

The 4H timeframe shows a clear five-wave up structure. The two major impulsive waves were 2112 to 2248 and 2272 to 2384, with sufficient pullback consolidation completed in the 2233 to 2307 zone. Current price at 2371 is oscillating near the highs of the second impulsive wave. Early morning saw a classic liquidity sweep—price surged to 2384 then quickly pulled back to 2329, followed by a V-shaped rebound back to 2371, forming a wide-range oscillation between 2329 and 2385.

From a structural perspective, the 4H major trend remains strongly bullish with eight consecutive bullish candles, EMA20 significantly above EMA50, and price holding above all moving averages. However, the 1H timeframe shows warning signals: the pullback from 2384 forms a potential double-top pattern, and if the 2329 low is broken, it will confirm a 1H CHoCH shift to bearish. The core battle zone for bulls versus bears is currently between 2340 and 2385, with 2340 to 2350 being a strong demand zone (two V-rebound starting points this morning) and 2378 to 2385 being a strong supply zone (two bounce-backs from highs). The funding rate is negative 0.0014%, indicating slightly bearish sentiment but at a minimal level.

Today's trading strategy suggests focusing on pullback longs. Do not trade against the 4H trend with short positions. Wait for price to retest the 2350 to 2355 demand zone and confirm the bottom before going long, or wait for a breakout with volume above 2385 to chase longs. Short positions should only be attempted with light positions when there are clear reversal signals in the 2380 to 2385 resistance zone.