ETH recent one-hour level trend is indeed quite intriguing.

From a technical perspective, after pulling back from the 3397.5 level, the price repeatedly tested support within the 3300-3320 range, multiple times hitting the bottom without breaking. The MACD green histogram narrowed to around -9.94, and the DIF line shows signs of upward movement, indicating that bearish momentum is significantly weakening. More importantly, multiple moving averages are beginning to converge — this pattern often signals an impending directional breakout in historical context.

On-chain dimensions are also noteworthy: large addresses’ holdings show no obvious outflows; instead, there’s increased accumulation within the range, and liquidity does not exhibit panic characteristics. Coupled with the marginal improvement in macroeconomic risk appetite, market sentiment may have bottomed out.

My personal view is that this pullback near 3380 is more about building strength rather than reversing the trend. If the price can regain and hold above 3397.5 in the next few days, there's a good chance of testing the 3450 level upward. Of course, position management always comes first — participate lightly, set stop-losses properly, and don’t let short-term volatility disrupt your rhythm.

Technical indicators will tell the story, but the market is always more complex than charts. Stay rational, make decisions based on data.