Wang Pang combines the latest ETH market trends, providing references from technical and funding perspectives. The core idea is that there is a possibility of a short-term oversold rebound, but the overall trend remains bearish, and risks should be noted.

Technical Analysis: Potential Rebound After Overselling

1. KDJ Oversold: KDJ values are very low (K=28.25, D=30.83), and there is a high probability of a technical rebound in the short term.

2. MACD Bearishness is Weakening: Although the MACD is still in a dead cross, the green bars are shortening (-55.71), indicating that bearish power is weakening and the speed of decline is slowing.

3. Funding Rate is Bearish but Hides Opportunities: The current funding rate is negative (-0.0022%), market sentiment is bearish, and bears have to pay bulls, which may attract funds in the short term for a rebound.

Funding and Big Player Movements

• Whales are Bottom Fishing: Prices have fallen, but large institutions and whales are still buying ETH. For instance, on September 2nd alone, there was a net inflow of over 100 million USD, indicating they believe the current price is not high.

• Exchange Reserves Hit a New Low: The reserve of ETH on exchanges is approximately 17.4 million coins, the lowest in nearly 3 years. This means that the number of coins available for sale in the market has decreased, and potential selling pressure is diminishing.

⚠️ Risk Warning

1. Overall Still Bearish: In the 4-hour chart, the EMA moving averages are in a bearish arrangement, and prices are below all moving averages, showing no change in short-term sentiment.

2. Insufficient Trading Volume: Recent trading volumes have been decreasing, and everyone is on the sidelines. There needs to be a volume increase to confirm that the rebound is real.

3. Be Careful with News: Tonight's non-farm data and the Federal Reserve's subsequent interest rate decisions are key points that may cause short-term volatility to increase.

Wang Pang's Operating Suggestions

Go long with light positions near 4336—4366, targeting 4398—4458. Lastly, a reminder: the market is full of uncertainties, so be sure to defend well; preserving capital is the most important. #ETH🔥🔥🔥🔥🔥🔥