The recent price of $ETH has fluctuated between 3300 and 3350, with multiple long upper and lower shadows in the candlesticks, indicating significant market divergence.

In the last hour, the price rebounded from 3219.7 to 3251.52, but overall it remains in a downward trend.

Technical Indicators:

MACD: The daily MACD shows a death cross, with both DIF and DEA being negative, indicating that bearish forces are dominant. The hourly MACD is also operating below the zero axis and may continue to be under pressure in the short term.

RSI: The daily RSI is at 39.70, close to the oversold area; the hourly RSI is at 36.96, also close to the oversold area, indicating a short-term demand for a rebound.

EMA: The daily EMA(7) is at 3418.24, and EMA(30) is at 3483.08, with the current price significantly below these two moving averages, showing a strong downward trend. The hourly EMA(7) is at 3269.98,

EMA(30) is at 3320.75, and the price is also below the moving averages, indicating clear short-term pressure.