Recently, I've been watching the 1-hour chart of ETH, and there are indeed some noteworthy details.

From a technical perspective, the Bollinger Bands (20,2) have tightened to a very narrow position, with the middle band holding steady around 2936.96, and the upper and lower bands pressed very low. Such extreme convergence usually signals an imminent directional breakout—like a stretched string, which will eventually release energy. The price is currently oscillating around 2940, appearing to be in the final shakeout phase to confirm the trend.

The MACD signals are also quite interesting. The DIFF has already moved above zero, reading at 5.70. Although DEA is still in negative territory (-6.92), it is clearly turning upward, with the histogram bars turning red consecutively. This structure typically indicates that the bearish momentum is waning, and bullish signals are building up.

On-chain data corroborates this observation—recently, the number of active ETH addresses has increased, often a sign of smart money quietly positioning. The ecosystem performance is also solid, with Layer 2 growth showing no signs of slowing, and staking amounts continuously hitting new highs. These fundamentals are supporting the price more solidly than surface-level analysis suggests.

In terms of news, the market is still digesting expectations for an ETH spot ETF, and new ecosystem applications keep emerging—this doesn’t seem like random volatility but rather a prelude to a certain trend.

In terms of momentum, if the upper Bollinger Band at 2958.8 is broken with volume, it could open up more upside space. Roughly, the levels at 2980 and 3056 might serve as short-term reference points. Conversely, a pullback to around the middle Bollinger Band is also a reasonable consideration, but caution is advised below 2915.

Market movements are hard to predict completely, but when multiple signals point in the same direction, it’s at least worth paying closer attention.