ETH just continued last night's upward trend, peaking at $3084, and has now fallen back. Is this rise a reversal? Or is it a trap? Following the trend down, what should ordinary players do tonight to be the most stable?

News: Whales are selling high and buying low, this time they almost didn't make a profit?

This afternoon's news, according to data monitoring, a whale address sold 1900 ETH at a local high of $4574, and then just now repurchased 2017 ETH at an average price of $3061. Sounds pretty smart, right? But now the current price of ETH is $3055, just a few dollars away from their average buying price, which means they haven't made a profit yet and are even slightly in the red! If a whale dares to buy at $3061, are they optimistic about a rebound, or are they forced to buy back due to being trapped?

Technical aspect: The K-line has a smiling face, but there are many obstacles.

Main chart price level: The overall upward trend on the hourly level places the current price just under 100 points away from the key resistance of 3150, with a high resistance level above at 3250.69; below, the pullback resistance is between 2960-3010, target support at 2860, and bottom support at 2720, as if the upper and lower channels are clearly drawn.

MACD sub-chart: The white and yellow lines have just crossed above the 0 axis, marking a golden cross trend with volume breakthrough. The short-term buying power is strong, but being below the 0 axis indicates that it hasn't completely escaped the weak zone.

Trading volume: The yellow and green bars combined with the K-line show an increase in volume, but the overbought area suggests a potential short-term pause.

The MACD golden cross is the gas pedal, but 3150 is the toll booth. If it can't get through, it may first pull back to 2960-3010 to catch its breath, or even go to 2860 for a rebound. Can this small hurdle at 3150 be crossed today?

Personal opinion:

It feels like ETH has the momentum to rise, after all, the MACD golden cross + large whales increasing their positions at low levels suggest that someone is quietly paving the way. However, there are many obstacles on this path, especially that key resistance level, which is not far from the current price. If it rushes too quickly, it may likely get blocked and need to pause. If there is hesitation before the resistance level, could it turn into a false breakout and a true pullback?

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