Main Path
"Weakening Oscillation → Testing Support → Weak Pullback"
Current ETH price is in the range of 2980–2985, with both 15-minute and 4-hour periods showing a clear retracement structure.
The price broke through the psychological level of 3000 and continued to decline with increasing volume (the 15min bearish volume is significant), indicating a prevailing short-term bearish sentiment.
The current pullback is a weak recovery, still under pressure at 3020–3040.
If the rebound cannot stabilize above 3010–3020, it is highly likely to continue oscillating downwards.
Short-term oscillation range: 2950–3020
Key support below: 2920, 2895
Support Levels
2950 (near support, short-term buying interest)
2920 (strong support, near the 4H lower boundary)
2895 (if broken, the structure turns more bearish)
Resistance Levels
3010 (first short-term pressure)
3025–3040 (main resistance area, MA overlaps across multiple periods)
3070 (strong resistance, return to the critical bullish/bearish point)
Alternative Path
Quick decline → Gain support → V-shaped pullback
This path will only be triggered under the following conditions:
Price pierces below 2920 but quickly recovers
Large orders absorb or a continuous high trading volume rebound in 15min
If this path is triggered, then:
The pullback target looks towards 3010 → 3040
However, the height of the pullback is limited, and a major trend reversal is not anticipated.
If it drops back down to 2950 after the rebound, the main path of weak oscillation and downward structure resumes.
Trading Suggestions (Short-term Swing)
Short Position Strategy (Main Rhythm)
Entry Zone: 3010–3030
Stop Loss: Above 3060
Target: 2950 → 2920
Logic:
The rebound momentum is weak, with dense pressure layers above, MACD contracting, RSI sliding, overall leaning towards a continuation of decline after a weak pullback.
Logic:
Only attempt light positions when strong support (2920) appears to absorb buying interest, which is a bet on the oversold condition, not a trend bullish position.
Rhythm Summary
Current ETH structure is:
"Weakening Oscillation → Weak Pullback → Possible Continued Decline"
Performance Characteristics:
15min volume expands with bearish candlestick decline → Bears are active
4H MACD crosses down again → Insufficient rebound strength
RSI returns to weak range → Difficult to break the upper pressure
Key Prices: 3010–3020
As long as this range does not break and stabilize, the current trend remains biased towards weak oscillation and decline.
Short-term Keywords:
Weak Pullback · Focus on High Shorts · Look below at 2950/2920
#eth