January 17th, 8:30 AM, ETH is currently trading at $3290, with an intraday range of 3250-3320. The short-term bullish structure is intact, and after testing the EMA20 (3250) for stability, the market remains predominantly bullish with oscillations.

Core Indicators and Key Levels

- Daily K: EMA20 support at 3250, Fibonacci retracement 0.618 at 3220; Bollinger Bands middle band at 3190, upper band at 3390; MACD shows increasing bullish momentum, RSI at 59, not overbought, indicating continued bullishness.
- 4H: Upward channel, EMA30 support at 3260, neckline at 3250; Bollinger Bands lower band at 3215, upper band at 3395; MACD decreasing in volume, short-term oscillation building momentum.
- Key Levels: Strong support at 3250-3260, first resistance at 3390, second resistance at 3400, wave target at 3450.

Trading Strategies (Actionable)

1. Bullish Strategy: Buy in batches within the 3250-3260 range, stop loss at 3210; target one at 3390 (reduce position), target two at 3400-3450.
2. Bearish Strategy: Light short positions at resistance around 3390-3395, stop loss at 3410; target 3320-3260, quick entry and exit.
3. Risk Management: Single position size ≤5%, strict stop loss; if breaking above 3400, wait for a pullback to confirm before adding long positions; if falling below 3210, switch to oscillation with a bias towards bearish.

Market Highlights

- Major players are testing support at EMA20 (3250) for stability, institutional ETF capital inflows, high pledge volume, supporting medium-term bullishness.
- Short-term focus on the validity of breaking through 3390-3400; volume confirmation of stabilization suggests a move towards 3450; otherwise, expect range-bound consolidation.