I looked at ETH this afternoon, and I feel that this wave of trends is quite tangled.

From the hourly chart, the position at 2620 is still quite stable, and the structure of the previous rebound has not been broken. But the problem is that it is now stuck in the range of 2800-2810, and the bulls are obviously a bit exhausted. Looking at the 4-hour chart, the price is still hovering below the middle track, and the pressure zone has not stabilized.

The indicators also show: the bullish bars of the 1-hour MACD are shrinking, indicating a possible reversal; the 4-hour MACD is recovering, but the strength is really not impressive. The RSI climbed from a low position to around 55 and then stalled, clearly showing weakened momentum after entering the consolidation range.

In simple terms, the range between 2750 and 2850 can't break out for now. Looking down, 2750 is a strong support, and below that, 2700 and 2620 are two defense lines. On the upside, 2850 is the previous high pressure, and if it really wants to break through, we need to see if it can push past the strong resistance zone around 2880-2900.

I personally tend to focus more on short positions, with long positions as a supplement. As long as the top of 2850 remains intact, it is very likely that we will continue to oscillate within this range. The short-term rebound space is limited, so don't expect too much.