Beijing time on the 25th morning, let's take a look at the performance of ETH in the secondary market over the past couple of days. Ethereum has been oscillating between 2880 and 2980 recently, with a very obvious sideways trend.

From the four-hour K-line chart, all three lines of the Bollinger Bands are parallel and downward pressure is evident. The price has been stuck below the middle band for a long time. What does this mean? — If a rebound is to happen later, it must stabilize above the middle band to be valid; otherwise, it might drop further. But there's good news: the short-term moving averages on the four-hour chart are starting to turn upward. Once a golden cross forms, it may attempt to test the resistance around 2970. Currently, the price is swinging between the 5-day and 30-day moving averages.

Looking at the 1-hour chart, the situation is a bit more complicated. Although the price is above the middle line of the Bollinger Bands, it is being firmly pressed down by the 5-day moving average and has not broken through effectively. If another attempt fails again, it will need to move downward. Notably, the 1-hour Bollinger Bands are also running parallel, and the 5-day moving average shows signs of turning downward. The price is fluctuating between the middle band and the short-term moving average.

Switching to the daily chart, it becomes even clearer. The price has been below the middle band for many days, so the middle band line has become a strong resistance level. The short-term moving average on the daily chart is turning downward, and although the 30-day moving average above has been tested multiple times, it has never been effectively broken. The overall trend still appears to be downward, with short-term support around 2880.

Looking at the MACD performance: on the four-hour chart, the two lines are parallel below the zero axis, with the fast line below the slow line, indicating that the bearish momentum is gradually weakening. On the 1-hour chart, the two lines show signs of crossing above zero, but the bullish momentum is also waning, suggesting both sides lack strength. The RSI indicator is in a normal trading range, between 67 and 65.

In summary, the market is in a sideways consolidation phase.

**Resistance levels**: 2980, 3080, 3240
**Support levels**: 2870, 2790, 2620

**Bearish strategy**: Short near 2980, add to short at 3080, and decisively cut losses if it breaks above 3240.
**Bullish strategy**: Go long at 2870, add positions at 2790, and cut losses if it falls below 2620.