Today, I took a look at the one-hour chart of Ethereum, and several signals are already quite clear. This is a critical moment for choosing a direction, and there are three key points to focus on.

First, look at the Bollinger Bands. The upper and lower bands are rapidly converging and have compressed to an extreme state. What does this volatility squeeze indicate? It means the market is brewing, and a breakout is imminent. The price is currently oscillating around 2927, right at the middle band, which is a quite delicate position. Remember a rule: the longer the sideways consolidation lasts, the more fierce the momentum once a direction emerges.

The MACD is even more interesting. The blue and green bars are almost invisible, and the DIF and DEA lines are tightly hugging around the zero axis. Both bulls and bears are running out of energy. It’s like two people wrestling; whoever runs out of strength first loses.

What about volume? The red and green bars show little change; funds are waiting during the sideways oscillation. Without volume support, any movement cannot be trusted.

Overall, since the price has held above the middle band, the short-term structure favors the bulls. As long as the support at 2890 is not effectively broken, the rebound logic remains valid.

The trading strategy is simple: if the price can stabilize within the 2920-2930 range, consider taking a small long position. Stop-loss must be strictly enforced, placed below 2890. If it breaks down, exit immediately—no illusions.

There are two targets for the upward move. The first is 2950, which was yesterday’s rebound high and resistance. If it can break through here with increased volume, the second target is the previous high at 2994, or even a push towards the psychological level of 3000.

Three iron rules must be remembered: no follow-through without volume, no chasing high without a breakout, and no entering without confirmation. In this market, patience is the most valuable. Support, resistance, and risk points are all clear—just wait for the market to find its own direction.