ETH experienced a one-sided fall from the day to 10 PM yesterday, but was blocked twice at the 2900 support level and ultimately did not break through effectively. It then entered a slight fluctuation, but the strength of the rebound has always been weak, and it is currently maintaining a narrow range consolidation.

From the 1-hour Bollinger Bands perspective, the opening has already contracted, and the upper and lower bands are parallel. The upper band is at 2989, the middle band is at 2953, and the lower band is at 2918. The K-line has recently shown a tendency to break through the middle band and stabilize, currently oscillating repeatedly near the middle band.

The moving averages are quite interesting. MA5 is at 2966, MA10 is at 2955, MA30 is at 2967, and MA60 is a bit higher at 2991. At four o'clock in the morning, MA5 and MA10 formed a golden cross, and the price started to rise, but it just couldn't break through MA30, which became a resistance level.

The MACD on the 1-hour chart shows that the two lines are still below the zero axis. A golden cross formed around 3 AM, with the two lines opening upwards, but the bullish momentum is clearly diminishing.

The RSI here is showing some risk signals. The fast line is at 94.7 and the slow line is at 93.2, which are typical overbought conditions. In this case, a wave of adjustment and pullback usually follows.

Comprehensive judgment indicates that the current situation is a low-level sideways market. Yesterday, there was an attempt to attack 2900 downwards, but it ended in failure. The problem lies in the insufficient vitality of the rebound, coupled with the fact that the MACD has begun to show signs of bullish fatigue, and the RSI is in an overbought position. Therefore, the next probability is a wave of fall.

Resistance level 3000, support level 2900. In trading, it is recommended to consider a short position: place a sell order near 3000 for a trial position. If it continues to rise to 3030, you can increase your position in a ratio of 1:1, 1:2, 1:3. Set the stop loss at 3060 and the target take profit level at 2900.