【$ETH Signal】1H timeframe narrow range convergence, waiting for a breakout direction

$ETH The 1H timeframe is experiencing extreme narrow range convergence within the 1970-1978 zone, with price tightly hugging EMA20 (1974.9) and EMA50 (1971.1), volatility has dropped to a freezing point, and a direction is about to be chosen. The 4H timeframe remains in a downward channel with oscillation correction, but the compression on the 1H timeframe is a sign of a potential reversal. Open interest remains stable, and the order book buy depth (1974.8-1974.91) is much greater than the sell side, indicating support forces below.

🎯Direction: Watch and wait (place orders for a breakout)

⚡Breakout buy orders: 1978.5 - 1980.0 (Reason: Breaks recent high on 1H timeframe and upper boundary of convergence zone )

⚡Pullback buy orders: 1968.0 - 1970.0 (Reason: Rebound to previous support on 4H timeframe and EMA50_1H )

🛑Stop loss (long position): 1962.0 (Reason: Break below key support zone and ATR14 lower band )

🚀Target 1: 1995.0 (Reason: Previous high resistance on 4H timeframe )

🚀Target 2: 2015.0 (Reason: 1.618 Fibonacci extension level )

🛡️Trading management:

- Position suggestion: Light position (Reason: Market direction unclear, waiting for confirmation signals )

- Execution strategy: If a breakout occurs, enter and after reaching Target 1, reduce position by 50% and move stop loss to entry point. If a pullback occurs, enter and after reaching Target 1, similarly reduce position and move stop loss to break-even.

Depth logic: Currently, the 1H RSI (51) is neutral with no obvious divergence. Market logic suggests a price increase, but open interest remains stable, so beware of false breakouts. The order book depth imbalance reaches 79.36%, with significant buy accumulation, indicating that major players may be accumulating in the 1970-1975 range. The key is whether the price can hold above 1978 with volume, which would open up short-term rebound space.

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