This evening, Ethereum bulls once again surged to around the 3080 level, which is the strong resistance position we mentioned earlier. However, the price has not stabilized and instead has moved south. From the current daily technical indicators, the rebound in Ethereum is due to the stabilization of Bitcoin and Ethereum in sync with the TD13 technical indicator. The current rebound is mainly a technical correction. Although the KDJ and MACD technical indicators are showing a golden cross and strengthening, the BOLL technical indicator is still under downward pressure. While the 5-day moving average continues to rise, the 30-day moving average remains in a downward pressure state. This indicates that market selling pressure is still strong. As for the short-term rebound of Ethereum from around 2620 to the 3000 area, it is still within a downward channel structure. Whether it can continue to decline mainly depends on whether the price can effectively break through the resistance above.
From the 4-hour technical indicators, the KDJ and MACD indicators are in a contraction phase, while Ethereum and Bitcoin have stabilized at the green TD9 signal. However, the 5-day moving average has not shown signs of weakening, which indirectly indicates that Ethereum will continue to oscillate above the 5-day moving average. Regarding the current trend of Ethereum, it is undergoing a weekly gap repair. Whether this round of rebound can stabilize at the upper resistance mainly focuses on the area around 3080-3147. If it fails to break through upwards, then the subsequent price of Ethereum will continue to face downward pressure. Personally, I still lean towards the latter.
Ethereum: Short in batches around 3040-3080, Stop Loss: 3147, Target: 2950-2900
Bitcoin: Short in batches around 91500-92000, Stop Loss: 92800, Target: 90000-89200

The above is my personal market analysis for the evening, for reference only. Specific points and directional changes are subject to real-time guidance.
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