ETH/USDT 1-Hour K-Line Analysis: Short-term Oversold Rebound, Medium-term Resistance and Consolidation

Key Support and Resistance Levels

• Resistance Levels

1. First Resistance: 3,000 round number, resonating with MA20 (2,990.47), forming a key barrier for bullish rebound.

2. Second Resistance: 3,067.86 (previous high), this area is a dense trading zone of recent bulls and bears battle; a breakout is needed to confirm the continuation of the rebound.

• Support Levels

1. First Support: 2,949.40 (MA5), the current short-term support for the rebound; losing this may trigger short-term profit-taking.

2. Second Support: 2,863.86 (recent low), the extreme low of this round of decline; breaking below could open a new downward space.

Technical Indicator Analysis

• Moving Averages: Short-term MA5 crosses above MA10 forming a golden cross, indicating short-term bullish momentum is recovering, but the price remains below MA20 and MA50, so the medium-term trend is still weak.

• MACD Indicator: DIF line is rising towards DEA line, a low-level golden cross has appeared, MACD histogram narrows from negative territory, indicating downward momentum is waning, and the rebound is a oversold correction.

• RSI Indicator: Value is 44.33, in the neutral zone, still some distance from the 50 threshold, reflecting that bulls have not gained a clear advantage.

• Volume: The current rebound is accompanied by decreasing volume, showing insufficient capital inflow, both bulls and bears are in a wait-and-see mode, awaiting clear directional signals.

Summary and Trading Suggestions

Currently, ETH/USDT is in a pattern of “short-term oversold correction and medium-term resistance and consolidation.” If the price breaks above 3,000 with volume and stabilizes, it can be considered bullish, targeting 3,067.86; if it retraces and breaks below 2,949.40 (MA5), caution is advised for a second bottom, with key support at 2,863.86 to watch for effectiveness.