2026.3.17 ETH Morning Session Analysis$ETH

ETH rallied from the 2085 low to a high of 2384, with gains approaching 300 points.

The 4H timeframe displays a clear five-wave ascending structure, with two major impulsive waves respectively from 2112 to 2248 and 2272 to 2384, completing sufficient corrective consolidation between 2233 and 2307. Current price at 2371 is oscillating in the high zone of the second major impulsive wave. In the early morning, the market experienced a classic liquidity sweep—price surged to 2384 then quickly pulled back to 2329, followed by a V-shaped rebound back to 2371, forming wide-range oscillations between 2329 and 2385.

Structurally, the 4H major trend remains strongly bullish with eight consecutive bullish candles lined up, EMA20 far above EMA50, and price holding above all moving averages. However, the 1H timeframe shows warning signals: the pullback from 2384 high forms a potential double top pattern; if the 2329 low is broken, it will confirm a 1H CHoCH shift to bearish. Currently, the core consolidation zone for bulls versus bears is between 2340 and 2385. The 2340 to 2350 range is a strong demand zone (starting points of two early morning V-rebounds), and 2378 to 2385 is a strong supply zone (pushed back twice after testing highs). The funding rate is -0.0014%, indicating slightly bearish sentiment but with minimal magnitude.

Today's suggested trading strategy emphasizes long positions on pullbacks. Do not short against the trend as long as the 4H trend remains unchanged. Wait for price to retest the 2350 to 2355 demand zone and confirm a reversal bottom before going long, or chase the long after a volume breakout above 2385. Short positions should only be attempted with light size on clear reversal signals around the 2380 to 2385 resistance zone.