【$ETH Signal】Breakout and retest on 4H, capital support intentions exposed

$ETH The 1H level is consolidating near the upper band of the Bollinger, with buy depth 98% higher than sell depth, fully revealing the capital support intention. Although the 4-hour MACD is converging, the fast and slow lines remain above the zero axis, and the bullish structure remains intact. Negative funding rates combined with stable open interest suggest the continued validity of the short squeeze logic where shorts are passively covering.

The price can go long directly around 2347, which is the resonance zone of the 1-hour EMA20 and the middle band of the 4-hour Bollinger, with active buyers below.

Defense is set at 2243; a break below this indicates the bulls' defense line has been breached.

The first target is 2470, the upper band of the 4-hour Bollinger and the previous high pressure zone. The second target is 2546; after breaking through, the space above opens up.

After reaching the first target, halve the position, and move the remaining stop-loss up to the entry price. If the price falls back below 2347, actively exit and observe.

Order book depth imbalance is a hard indicator; a buy/sell ratio of 1.98 indicates active buy orders far exceed sell orders. The 1-hour level closes continuously above the EMA50, with selling pressure quickly absorbed. The 4-hour Bollinger band is opening upward, with the middle band providing dynamic support. The current risk/reward ratio exceeds 1:1, risk is controllable, and it’s worth using a smaller stop-loss to bet on the upward space.

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