ETH/USDT 1-Hour K-Line Analysis: Rebound and correction at high levels, short-term bearish momentum is releasing#内容挖矿焕新公测开启 $ETH

Key Support and Resistance Levels
• Resistance Levels
1. First resistance: 3,000.61 (MA10), is the immediate resistance during short-term rebound. Breaking through this level could lead to a move towards 3,008.30 (MA20).
2. Second resistance: 3,009.26 (MA30), this medium-term moving average is an important dividing line in the bulls and bears battle.
3. Third resistance: 3,044.48 (previous high), only after breaking this level can the medium-term correction pressure be alleviated.

• Support Levels

1. First support: 2,926.53 (recent low), is the current short-term psychological support during correction.

2. Second support: 2,898.32 (previous low), is the starting point of this round of rally. Falling below this level could open a new downward space.
Technical Indicator Analysis

• Moving Average System: Price has fallen below MA5 and MA10 short-term moving averages, and is trading below MA20 and MA30. The short-term moving averages are in a bearish alignment, indicating short-term bearish momentum is releasing and correction pressure is emerging.

• MACD Indicator: MACD value (-8.36) is in the negative zone. DIF line crosses below DEA line forming a death cross, and the green histogram continues to expand, indicating increasing downward momentum.

• RSI Indicator: The value is 37.61, in a neutral to slightly bearish zone, not yet entering oversold territory, reflecting that bearish force still has room to be released.

• Volume: During the pullback, volume has increased, showing selling pressure has grown and the willingness of funds to exit is strengthening.
Summary and Trading Suggestions

Currently, ETH/USDT is in a pattern of “rebound and correction at high levels, short-term bearish momentum is releasing.” If the price breaks above 3,000.61 (MA10) with volume and stabilizes, it can be considered bullish, targeting 3,008.30 (MA20); if it retraces and falls below 2,926.53, caution should be taken for a second bottom. The key support below is 2,898.32, and its validity should be closely monitored.