Ethereum is currently reported at 3,122.17, with the price quickly falling back after testing the high of 3,150. The 4-hour level shows a structure of a high being met with resistance, and the short-term bullish momentum is difficult to maintain, with significant pressure for a technical pullback.
The current rebound resistance is clearly located in the 3,140–3,160 range, which is a strong resistance formed by previous highs. The key support below is at the previous low of 2,903; if this is lost, it will open up a downward space to 2,800–2,850.
It is recommended to short in batches when rebounding to the 3,120–3,140 range, with a stop loss above 3,180 and a target of 2,950–3,000. If it directly breaks below 2,900, you can continue to short, aiming for below 2,800.
ETHUSDT
Perp
3,193.89
-5.14%