#ETH巨鲸增持 Ethereum early market analysis: Pressure appears around 2990.

Currently, $ETH is in a bit of an awkward position at 2990. Looking at the 4-hour chart, the price has dropped below the middle band of the Bollinger Bands, and the MACD has just formed a death cross—these two signals combined indicate that the short-term bullish momentum is weakening.

The middle track has not been held, this is the first alert. Currently testing the support level towards the lower track. The Bollinger Bands show signs of narrowing, the momentum of a one-sided rise has temporarily come to a halt, and it is very likely that we are entering a high-level consolidation phase.

The most noticeable change in the MACD is that the DIF line has crossed below the DEA line, and the histogram has turned green. This death cross pattern indicates that the upward momentum at the four-hour level has basically been exhausted, and the bears are starting to take control, which may lead to a pullback.

Trading Idea Reference:

Consider placing short positions in the range of 3010 to 3040, with target levels at 2970-2920. It is recommended to set the stop loss above 3040 to allow some margin for error.

If the price really falls back to around 2970, there may be support there, at which point you can try to buy low, aiming for a rebound towards 3000-3020, with a stop loss set below 2950.

In summary, the current technical outlook is weak, and the main strategy is to short on rallies while waiting for entry opportunities at the support level below.