ETH market analysis:

K-line pattern: The daily chart shows that ETH/USDT has fallen continuously in the past few days, from the high of 3431.36 on July 3 to the current 3163.4. A clear downward trend has been formed.

From the 4-hour chart, the price has fallen rapidly from 3306.25 to the current 3163.4. There have been many rebounds in the middle but it has failed to break through the previous high, showing a typical oscillating downward trend.

Technical indicators:

MACD: The hourly MACD is in the negative area, and both DIF and DEA diverge downward, indicating that the short-term strength is strong; the daily MACD is also below the zero axis, and DIF and DEA continue to fall, further confirming the medium-term weak pattern.

RSI: The hourly RSI is 25.8, close to the oversold zone, but has not yet entered the extreme oversold state; the daily RSI is also low, about 30, indicating that the market sentiment is relatively pessimistic.

Based on the above analysis, ETH/USDT is currently in a clear downward trend. It is recommended to follow the trend and pay attention to the integer point 3000 as a potential support level, and pay attention to the performance of important levels such as 3150 and 3100. If the price rebounds, consider shorting at resistance levels such as 3200 and 3250.

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