Friday, January 9 | Ethereum Morning Analysis

After a rapid rise earlier, ETH experienced a normal technical correction, with the current price retreating to around 3100. During the correction, long-term profit-taking was fully released, and downward momentum significantly weakened. Market sentiment gradually shifted from panic to rationality. Along with the continuous contraction of trading volume, this indicates limited selling pressure in the current zone, and the price is building a stage support.

From the 4-hour structure perspective, ETH has fallen from the 3300 high point and is currently trading between the Bollinger lower band and middle band, which is consistent with a healthy correction. The upward trend line remains intact and has not been effectively broken, providing technical support for subsequent rebounds. Combining trend and volume performance, the current zone has a high probability of a bullish game.

Trading idea: Attempt to go long in the 3060–3080 range, with a target near 3200.