Key level for ETH's short-term trend: under the tug-of-war between bulls and bears, the 3000 level becomes a lifeline
This wave of ETH's oscillation has heightened market suspense! The current price is oscillating around 3092.5 USDT with a narrow range, after a 4.61% drop in 24h it has fallen into a 'weaving' market. Both bulls and bears are engaged in fierce competition in a key range, and the short-term direction is about to become clear. These core signals must be closely monitored:
Bearish logic: technical patterns + selling pressure not dissipated, beware of a secondary dip
From a technical perspective, the daily chart has formed a 'bearish flag' pattern. Previously, the resistance zone of 3200-3250 USDT was attacked multiple times without success, instead becoming a short-term heavy pressure area. The current price is still below the 10-day and 20-day EMA moving averages, and the bearish trend has not yet reversed. On-chain data shows that since December, ETH has seen multiple large net inflows to exchanges, and the whale selling signal is still present. Coupled with the futures market's open interest being at historical highs, the high-leverage environment may amplify downward volatility. If the 3000 USDT level is lost, the next support will directly look towards the historical demand zone of 2850-2880 USDT, and in extreme cases, it may test the key support level of 2767 USDT.
Bullish logic: strong support + fundamental backing, the rebound window is not closed
The bulls are equally confident: 3000 USDT is not only a psychological threshold but also a structural support area that has been tested multiple times since September 2025. Recently, the MVRV ratio has dropped to the 'opportunity zone' of -13%, and historical data shows that this range is often accompanied by strong rebounds. On the technical front, a bullish divergence signal has emerged; prices have reached new lows, but the RSI indicator has not followed suit downward, and trading volume has gradually decreased during the downturn, indicating that the bearish momentum is waning. On the fundamental side, the Fusaka upgrade continues to release effectiveness, with Layer 2 transaction fees decreasing by 60%, combined with institutional funds continuously entering the market through ETFs, providing strong support against declines for ETH. If it can stabilize above the 3150 USDT on-chain support level, it is expected to launch an attack towards the 3270-3300 USDT resistance area, and after breaking through, the target can be set at 3400 USDT.
Short-term operation core: anchor key positions, refuse to follow blindly
The current market is at a triple crossroads of 'macro sentiment + technical patterns + capital flow'. Key events such as the December Federal Reserve meeting and non-farm payroll data will serve as directional catalysts. It is recommended to set a defensive line at 3000 USDT; if it falls below this level, further pullback risks should be heeded. If it stabilizes in the 3000-3150 USDT range, consider a light position for a rebound, focusing on the breakthrough situation at the 3270-3300 USDT resistance.
The current long-short divergence has reached a recent peak. Do you expect ETH to hold support and rebound, or break through and undergo a deep correction? Let's discuss your trading ideas in the comments section~$ETH 
