Ethereum 2950 Crisis Countdown! 24 - 48 hours, check out the key decisions!

The Ethereum market is at a complex and critical stage. Technically, the bearish trend is clear, with prices suppressed by key moving averages, sitting in the weak zone of the Bollinger Bands. However, the downward momentum has somewhat diminished, entering a low-level consolidation. Indicators like MACD and RSI show that while the market is weak, it is not extremely oversold, and trading volume has shrunk significantly, with bulls and bears in a stalemate.

On the technical front, there is a large amount of short liquidation fuel in the 3050 - 3100 area, which is a potential counterattack target for the bulls; while the 2850 - 2900 area has a dense cluster of long stop-loss orders, which is the main focus for bears. The current price is closer to the lower killing zone for bulls than to the upper short-squeezing zone, so the short-term risk of a downward break is slightly higher than that of an upward breakout.

On a macro level, the Bank of Japan's interest rate hike expectations have put pressure on global risk assets, limiting the rebound potential of ETH. However, there are many supportive factors in the on-chain fundamentals, and the new low in ETH stock on exchanges means less potential selling pressure. Whale reverse investments often indicate mid-to-long-term bottom characteristics, and the long-term benefits of network upgrades have not yet fully reflected in the price.

Overall, the consolidation of ETH around the 2950 line is the calm before the storm, and the direction of choice depends on the price's testing results against the 2900 support and 3000/3047 resistance. In the next 24 - 48 hours, the levels of 2900 and 3000 are crucial.

At this time, the Yellow Emperor will lead everyone to ambush a hand of $ETH, expecting to earn 200 points without a problem. Friends who want to join this big opportunity can gather at 聊天室, guiding you to avoid various pitfalls, breaking down subsequent capital movements at the first time, and seizing every good opportunity to make money! #ETH走势分析 #山寨季将至？