Trend determination: ETH 4-hour chart is in a consolidation and bottoming phase after a decline, with bearish momentum continuously weakening. Bulls are attempting to rebound but have not yet broken through the key resistance. Overall, the trend is oscillating with a slight bullish bias.

Core trend logic

1. Support level: The price has formed effective support at $3,042, with multiple tests without breaking. The lower band of the Bollinger Bands (at $3,027.77) provides resonant support, and the bottom pattern is gradually solidifying;

2. Resistance level: MA20 ($3,149.83) and MA60 ($3,146.88) form a short-term resistance zone. The MACD remains in the green histogram (-6.48), indicating insufficient bullish momentum;

3. Indicator signals: The KDJ's J value at 78.75 is near overbought, suggesting a possible short-term minor pullback. RSI is gradually rising, recovering from oversold territory to above 40, indicating the market sentiment is slowly warming.