Although ETH has risen with consecutive bullish candles after a long lower shadow on the four-hour chart, and the moving averages are initially showing a bullish arrangement, there is significant resistance nearby. Currently, the validity of the breakout is insufficient, and it is highly likely to be a false bullish signal. A subsequent pullback and consolidation are probable, so be cautious of the risk of a correction after the bullish momentum weakens.
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Although ETH has risen with consecutive bullish candles after a long lower shadow on the four-hour chart, and the moving averages are initially showing a bullish arrangement, there is significant resistance nearby. Currently, the validity of the breakout is insufficient, and it is highly likely to be a false bullish signal. A subsequent pullback and consolidation are probable, so be cautious of the risk of a correction after the bullish momentum weakens.
Operational Recommendations
Around 3050 can be short, target 2940.