#数字资产市场动态 $ETH After a volume-driven decline, it is now repeatedly testing a critical support zone. Looking at the high open interest, this is more likely a natural shakeout caused by long leverage liquidations, not a market maker dumping to sell off.

From a trading perspective:
The entry zone is around 2950-2980, with a stop loss set at 2880 (hard stop, no mercy). The upward target is divided into two stages: first watch 3120, and if broken, then aim for 3250.

Why do I see it this way? $ETH 's decline is accompanied by extremely high open interest, which indicates what? Long positions are being widely closed at this price level. If there were sustained selling pressure or institutional dumping, the open interest should decrease rapidly during the decline. But now it’s the opposite—OI remains high, indicating a large number of longs are collapsing here.

Technical details also support this judgment. Previously, the price broke above a key structural level (around 2950), which attracts buying interest. Recently, at the recent lows, various hourly charts show clear lower shadows, indicating buyers are defending this level. As long as our stop loss isn’t truly breached and the market structure remains intact, then a rebound to clear liquidity is highly probable.

In simple terms, this isn’t panic selling; it’s an inevitable part of leverage trading—longs get hit, retail traders stop out, and then the price naturally rebounds. Manage risk well, control the pace, and opportunities are right in front of you.