#数字资产市场动态 **Current Technical Analysis of Ethereum**

Recently, I’ve read quite a few analyses on ETH, so I decided to organize my own thoughts. From the current technical standpoint, Ethereum is in a somewhat awkward position in the short term — it neither shows clear bullish signals nor has it formed an overwhelming bearish pattern.

First, let’s talk about support and resistance. The immediate resistance in the short-term (24-48 hours) is around 3031, which coincides with the intersection of the 20-day moving average and the middle band of the Bollinger Bands, making it difficult to break through. The support zone below is between 2891 and 2920, which includes the 24-hour low and some psychological levels. Further down, there are deeper targets at 2775 (lower Bollinger Band) and 2623.

From a larger perspective, the 3000 level is highly significant and historically tends to attract attention. Moving higher, 3345 was a previous resistance level, and on a longer-term basis, attention should also be on the EMA resistance around 3500 and the historical highs near 4000. On the downside, the volume cluster around 2400 is worth noting.

**How to operate?**

In the short term, my suggestion is to stay on the sidelines for now, as the trend is not yet clear. If the price rebounds to the 3000-3031 range, consider taking a small short position to test the waters, but be sure to set a stop-loss at 3150 — don’t gamble recklessly. Conversely, if the price directly breaks below 2891, follow the bearish trend with targets at 2775 or even 2623.

For the medium to long term, the approach needs adjustment. The most critical factor is the monthly closing performance — either holding above 3000 or forming a double bottom pattern. Once any of these signals are confirmed, you can start to gradually enter long positions. If you are firmly optimistic about Ethereum’s long-term value, deploying in the 2400-2600 zone is also a good idea; staggered entries can effectively lower the average cost.

Regarding stop-losses, whether bullish or bearish, don’t be greedy — keep stop-losses within 3-5%, which is a fundamental risk management principle.

**Risks to watch out for**

Although declining exchange reserves can reduce some selling pressure, it cannot change the overall situation alone. Ethereum still needs to break through the 3000-3031 resistance zone to truly reverse the short-term weakness. Additionally, the derivatives market has accumulated a significant number of long positions. In such a scenario, a rapid downward move could easily trigger chain liquidations, leading to even more exaggerated declines. Stay alert.