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