From a technical perspective, Ethereum has clearly encountered resistance at the key level of $2990, forming a bearish upper shadow structure on an hourly basis. The price has retreated from a high of $2989 to around $2960, confirming the effectiveness of this resistance zone. Currently, the price has broken below the upward trend line from early morning, showing signs of short-term momentum decay.

The key resistance has shifted down to the 2970-2980 area, which has turned from previous support into resistance. If the price rebounds but cannot effectively break through 2975, it is expected to test the support range of 2940-2950 again. If this support fails, it will further open the downside space towards the 2920-2900 range. #比特币与黄金战争 $ETH

Currently, one can pay attention to short positions with light positions when the price rebounds near 2970, with a stop loss suggested to be set above 2995. It is essential to closely monitor the price's reaction to the test of the 2970 resistance level, as well as whether it can maintain operation below 2960. The market is still in a high-level oscillation pattern, so it is necessary to guard against false breakout risks and manage positions strictly.