ETH showed a weak fluctuation yesterday, with the price consistently operating between the middle and lower bands of the Bollinger Bands. The short-term moving averages (MA5, MA10) continue to extend downward and are in a bearish arrangement, indicating strong downward momentum. The price has repeatedly failed to effectively rebound after being pressured near $3220.
Key Observation:
$3129 became yesterday's short-term low, bulls are trying to build support in this area.
Both the 4-hour MACD and RSI indicators show weakness, with no clear reversal signal in the short term.
![](https://public.bnbstatic.com/image/pgc/202501/2efb51f4cd4b82fabf7aaafee69dba9c.png)
Today's Technical Analysis
Bollinger Bands (BOLL):
The current price is close to the lower band of the Bollinger Bands, indicating that there is certain support below, but there is obvious pressure above, with the middle band ($3280) becoming the first challenge target for short-term bulls.Moving Average System (MA and EMA):
The moving averages are in a bearish arrangement, with MA5 and MA10 diverging downward, and EMA7 forming resistance at $3220, indicating that the price trend remains weak in the short term.Support and Resistance:
First Support Level: $3200
Second Support Level: $3120
First Resistance Level: $3280
Second Resistance Level: $3340
Trading Volume:
Yesterday's trading volume shrank, indicating cautious market sentiment. If today's volume does not effectively increase, the height of the rebound may be limited.
![](https://public.bnbstatic.com/image/pgc/202501/00c2f89362440919bfbfce0801c60721.png)
Bearish Strategy:
Entry Point: If the price rebounds to the $3280 area, consider attempting to enter a short position.
Take Profit Targets: First target at $3220, second target at $3180.
Stop Loss Level: Set above $3300, strictly control risk.
Bullish Strategy (Cautious):
Entry Point: If the price retraces to $3120 and shows a stop-loss signal, a light long position can be attempted.
Take Profit Targets: First target at $3200, second target at $3250.
Stop Loss Level: Set below $3100.
Summary and Direction Judgment
ETH's overall trend today remains weak, attention should be paid to the effectiveness of the $3200 support and the strength of the rebound. In the short term, if the price cannot break through $3280, it will continue to maintain a fluctuating downward pattern. Conversely, a breakthrough of $3280 is expected to probe the $3340 area, but it requires accompanying volume.
Direction Judgment:
Short-term bearish, mainly positioning short trades on rallies;
If it reaches key support and shows a rebound signal, consider trying a long position with a light position.
Recommendation: Strictly adhere to stop-loss, flexibly adjust operating strategies in conjunction with market sentiment.