Come and check out the technical performance of ETH at 9:00 this morning.

From the daily chart, the closing price is near the key resistance level of 3325, forming a large bullish candlestick. Although the trading volume isn't particularly exaggerated, the 4-hour timeframe shows a clear increase in volume with upward momentum, indicating a short-term bullish bias. The current question is whether the triangle convergence pattern can be confirmed in the next two days; a breakout would be promising.

The moving average support levels are at 3040-3190, with resistance above at 3504. The 4-hour support is near 3238. In the short term, as long as the price retraces to MA5 or MA10, it could be an opportunity to consider long positions.

The MACD is quite interesting; on the daily chart, the MACD has shifted from a death cross to a golden cross, showing a bullish momentum. The 4-hour MACD has a strong upward cross, but a correction is needed for further release.

On the Bollinger Bands, the daily chart hasn't yet broken out of a one-sided trend, but some signs are emerging. We expect the Bollinger Bands to open up with the middle band trending upward. Currently, the price is stuck at the upper band resistance of 3345; aggressive traders might consider short positions at this level. The 4-hour chart needs to pull back inside the Bollinger Bands.

Regarding supply and demand, the 4-hour resistance levels are at 3388-3446, 3542, and 3607-3658, while support levels are at 3132, 3095, and 3052.

Looking at Fibonacci retracement levels, 0.236 is at 3307, 0.382 at 3260, 0.5 at 3222, and 0.618 at 3184. After a short-term rally, a retracement presents a good entry opportunity. Aggressive traders can enter around 3260, while more conservative traders might wait for 3220 or 3184.

On the Vegas channel, the 4-hour chart has broken through the resistance at 3271-3290, which now acts as support. The daily chart remains below the resistance at 3345, with support at 3247 and 3283.

Overall, the market has entered a short-term upward trend. While the bulls are optimistic, caution is advised as the triangle convergence resistance has not yet been broken. This level can actually be used for short positions. As long as the market retraces, it’s an opportunity to add positions. The 3122-3170 range offers the best risk-reward ratio for long entries, though it is also the most difficult area to enter.