Recently, I’ve been watching the 1-hour chart of Ethereum and found some interesting things.

The price broke through the lower band and stabilized above 3044, which indeed shows considerable technical strength. The Bollinger Bands opening up indicates increasing volatility and the formation of a directional trend. The MACD red bars are continuously enlarging to 22.6, suggesting that buying momentum is still accumulating and it’s not yet in a decline phase.

From a structural perspective, the high point at 3056 only retested 12 points before gaining support. This kind of strong consolidation at high levels is worth paying attention to. The volume is even more interesting — recently, the MA5 average volume far exceeds the MA10, indicating that funds have been flowing in during this period, which doesn’t look like short-term speculation.

On-chain monitoring also provides some signals. Smart money addresses are continuously accumulating, and the net withdrawal volume from exchanges has significantly increased over the past 24 hours. Hourly signs of supply tightening are beginning to appear. The number of large transactions has surged, usually indicating that major players are rebalancing their positions or new funds are entering, which corroborates the current technical breakout.

The ecosystem is also gradually heating up. Expectations for Ethereum-related ETFs are continuing to ferment among market participants, and the TVL data for Layer2 and DeFi are quietly rebounding. The improving fundamentals are indeed providing some support for technical breakthroughs.

**My view is straightforward**: The high-level oscillation around 3044 might just be a necessary chip turnover after breaking through resistance. 3056 may not be the top, but rather a stepping stone for the next rally.

Key levels: the 3020-3030 range has become the new support zone (overlapping the previous upper band and dense trading area). If a pullback occurs to this level, it’s usually a good opportunity.

From this perspective, there’s a possibility of testing the 3100 threshold within the next 6-12 hours. If it stabilizes there, it could then push towards 3180-3250. For traders with lighter positions, any retest near 3030 is worth paying attention to. For those already holding positions, hold steady and don’t be scared out by minor fluctuations. Consider placing stops below 3000.

Market volatility is actually trackable; the key is to see through the essence. The recent hourly strength is preparing for a subsequent breakthrough on the daily chart.