#数字资产市场动态 Ethereum 1-hour chart has just shown a critical turning point—this moment deserves serious attention.

The price has broken below the key support at 2980, along with the middle band of the Bollinger Bands(2975), which it failed to hold. Currently, it’s at 2968. This is not a simple retracement but a clear signal of short-term structural weakening.

**Technical analysis in detail:**
The BOLL middle band has been breached, and the next level of contention is the lower band at (2894). The MACD is below the zero line, indicating bearish momentum. However, there’s a detail—trading volume(349.5K) is actually lower than the estimated(369K), suggesting the downward momentum has not fully released. In this situation, be alert to the possibility of a rebound due to momentum exhaustion. The real support zone is around 2920-2894(the previous lows + resonance with the lower Bollinger Band).

**On-chain data provides an interesting signal:**
Large holders’ positions have not significantly decreased due to the price drop; instead, they seem to be accumulating on dips. Exchange net outflows have slightly increased, indicating that “smart money” is not panicking and selling off. The funding rates for derivatives have returned to a neutral to slightly negative level, easing bearish sentiment—this actually reduces the risk of long positions being squeezed.

**Market sentiment outlook:**
In the absence of macro catalysts, the market has entered a technical consolidation phase. The overall volatility in the crypto market has recently declined. Ethereum’s movement is mostly following Bitcoin’s range-bound oscillation, without independent momentum for a breakout or breakdown.

**My analysis and trading approach:**
In the next 6-12 hours, the short-term trend is indeed biased bearish. The key is whether the support zone at 2920-2894 can hold. If a 1-hour long lower shadow appears in this area, or if a volume-driven bullish candle closes above it, that would be a good short-term rebound entry point.

But to be clear: this is not the start of a trend reversal; it’s a normal shakeout and liquidity cleanup during an upward correction. Position management is always the top priority. If you are currently flat, wait patiently for confirmation signals of support stabilization; if you are holding, don’t panic—unless the 2894 level is broken and the hourly chart confirms a sustained move below, it’s not yet time to cut losses.

The market ultimately favors those who are prepared and clear-headed. My positions are ready, just waiting for that confirmation of the bullish or bearish switch. $ETH