#数字资产市场动态 $ETH Some details on the 1-hour chart worth considering: both bulls and bears seem a bit exhausted here.

From the candlestick perspective, the 2970-2985 range is an extremely low-volume sideways consolidation, with almost negligible decline—this "suffocating" state often indicates that selling pressure is exhausted. The middle band of the Bollinger Bands is firmly pressing at the 3014 level, but the upper and lower bands are widening, hinting that a trend reversal is imminent and volatility may increase.

On the MACD side, the DIF and DEA are still deep below the zero line, but there's an interesting sign—green bars are shrinking. Bearish momentum is waning, and a hidden bullish divergence is faintly visible. This is the most critical signal to watch on the left side.

What about on-chain data? Addresses in the 2900-2950 range are clearly accumulating, and the amount of ETH transferred to exchanges by whales in the past 24 hours has decreased, indicating that large holders are not in a hurry to sell. Perpetual contract funding rates are still negative, but they haven't worsened further—market panic hasn't spread, and there's even a sense of "can't fall anymore."

The ETH ecosystem Layer 2 activity remains quite steady, with no new negative signals in the fundamentals. This recent decline is more driven by sentiment following BTC, and the technical story is actually clearer.

**Core judgment**: If the key support at 2900 (Bollinger lower band) holds, this is very likely the starting point for a 1-hour rebound. If there is a significant volume break below 2900, then look towards 2820-2850 (previous low structure), but based on current probabilities, this scenario is less likely. The main players are more likely to be consolidating and shaking out weak hands at this level to prepare for a rebound.

**How to go up?**

Bold traders: You can try a small long position around the current price of 2980, but be sure to set a stop-loss at 2940. Target 3050-3080 (Bollinger middle band plus previous resistance).

Conservative approach: Wait for a volume breakout above the Bollinger middle band at 3014, or wait until the 2900-2920 zone stabilizes before entering on the right side.

The market gives you opportunities in panic, and runs out of hesitation. I’m not bearish here; I only see the value zone after risk is released. Hold the 2900 line, and the rebound will begin.