ETH3044 to 2670 Review & BTC90500 Resistance Analysis

New York Reversal Master:
From a structural perspective: After ETH surged to 3044 and encountered resistance, it first broke the short-term support at 2950, then fell below the 9-month rising trendline. The daily chart structure shifted from rebound to medium-term weakness. Throughout the process, ETH followed BTC's decline without independent movement, forming a stepwise downward structure.

Key Levels: 3044 is the short-term rebound high point and strong resistance; 2950 is the trend support level. Breaking below it triggered a surge of bullish stop-loss and liquidation orders, with a short-term resonance support at the November low of 2670. The first resistance during rebound is at 2750-2800; only if it effectively surpasses 2900 can the weakness be alleviated.

Funding Selling Pressure: Above 3000, major players took profits and exited. Breaking below 2950 triggered a large number of bullish stop-loss and forced liquidation orders. The volume spike with a long bearish candle confirmed the concentrated release of selling pressure. Retail investors followed the trend to escape, turning the market from a game of strategy to panic selling, with a complete lack of supporting funds.

Importance of BTC90500 Resistance: This level is the previous rebound high point plus a psychological whole number, serving as a strong consensus resistance level. Multiple tests without breakthrough formed a double top pattern, becoming the mid-term bull-bear dividing line for BTC. Resistance at this level directly triggered panic selling across the entire crypto market. It is the core linked trigger for ETH's current decline. After breaking below, support levels below were sequentially lost, further strengthening market bearish sentiment.