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 support, the price is mainly consolidating with a slight upward bias.

Core Indicators and Key Levels

- Daily K: EMA20 support at 3250, Fibonacci 0.618 at 3220; Bollinger Bands middle band at 3190, upper band at 3390; MACD bullish expansion, RSI at 59 not overbought, bullish continuation.
- 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 consolidation building momentum.
- Key Levels: Strong support at 3250, 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 in and out.
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 breaking below 3210, switch to consolidation with a bearish bias.

Market Highlights

- Major players are testing support at EMA20 (3250) and stabilizing, institutional ETF capital inflows, high pledge volume, supporting a medium-term bullish outlook.
- Short-term focus on the validity of breaking through 3390-3400; if volume increases and it stabilizes above, then target 3450; otherwise, expect range-bound consolidation.