Yesterday, ETH rebounded after hitting a bottom at 2888, but it has yet to break through the four-hour MA60 level, and subsequently entered a consolidation and correction phase. Although this wave of market movement hasn't been very volatile, for traders following along, every entry point at each stage has been tightly managed.

Looking at the four-hour chart, the Bollinger Bands are opening downward but not too wide, with the middle band continuously declining. The price once fell below the lower band but rebounded, yet still failed to cross the MA60 hurdle. From the moving average system, MA5 has already turned upward, while other moving averages remain downward, with short-term averages arranged sequentially downward. The MACD fast and slow lines have formed a golden cross below the zero line, indicating weakening bearish momentum. The RSI indicator is also interesting; the fast and slow lines have a golden cross while entering the normal zone from the oversold area, suggesting selling pressure is easing.

On the one-hour chart, the price has stabilized around the middle Bollinger Band, with the three lines arranged horizontally, showing signs of convergence. The MA10 has crossed above the MA30, indicating a short-term bullish crossover. The MACD fast and slow lines are forming a golden cross below the zero line, with bullish momentum contracting. The RSI has moved from a dead cross in the overbought zone back to the normal zone, signaling a pause.

Overall, the short-term trend is a consolidation with a slight upward bias. If the price does not break above the four-hour middle band, it is likely to retrace and enter another consolidation phase. Resistance levels are at 3046, 3142, and 3256, with support at 2894 and 2831.

Trading suggestion: When the price does not break above the four-hour middle band, consider a light short position. Add to the position at 3013, and after a correction, gradually reduce the position. Re-enter at 3044 for a second round of buying.