On 2026-01-18 11:00 (UTC+8), ETH is quoted at approximately $3314 USD, with intra-day narrow fluctuations. The core revolves around a battle between support at $3290-3300 USD and resistance at $3330-3350 USD. Strong support is at $3260 USD (daily M20), and strong resistance at $3350 USD (Fibonacci resonance).

1. Core Market and Key Levels

- Daily: Lower boundary of the ascending channel, $3260 USD (M20) strong support; $3350 USD strong resistance, multiple attempts to push higher and retreat, insufficient upward momentum.
- 4-hour: Repeated tests of the lower boundary and midline of the channel, short-term key support at $3290-3300 USD; resistance at $3330-3350 USD, volume is relatively weak, MACD shows signs of weakening, caution for a pullback after a rally.
- 1-hour: Range-bound oscillation, support at $3295 USD (intraday low), resistance at $3328 USD (intraday high), RSI neutral, no clear direction.

2. Indicators and Volume

- Indicators: Daily RSI neutral, risk of overbought conditions easing; 4-hour MACD divergence concerns, RSI not strengthening, bullish momentum diminishing.
- Volume: 24-hour trading volume approximately $11.67 billion USD, shrinking compared to previous periods, rebound without volume, difficult to sustain breakout, prone to quick pullback.
- Capital Flow: Perpetual futures funding rates neutral, retail investors cautious, ETF inflows slowing, institutional divergence, market sentiment cautious.

3. Actionable Strategies

- Long: When support at $3290-3300 USD is effective and volume stabilizes, consider a small long position, with stop-loss below $3280 USD, target $3330-3350 USD, break above to $3380 USD, and take profit promptly if volume is insufficient.
- Short: During a rebound to $3330-3350 USD with low volume and long upper shadows, consider a small short position, with stop-loss above $3360 USD, target $3300 USD, break below to $3290 USD, and further down to $3260 USD (M20) if broken.
- Wait-and-see: When range-bound with no clear signals, prefer to observe, avoid frequent trading, and wait for a confirmed breakout or breakdown for trend trading.

4. Risk Warning

- If volume increases and price breaks below $3290 USD, it may test $3260 USD (M20); if volume breaks above $3350 USD, it could challenge $3380-3400 USD. Pay attention to volume and BTC correlation.