1. Market Overview

According to the latest K-line data, Ethereum (ETH) currently closes at 2976.07, with a fluctuation range between 2973 and 2981.43. Over the past 14 days, the price experienced significant volatility with a rapid upward movement, reaching a high of 3447.44, then faced resistance and sharply declined, turning the overall trend into a range-bound consolidation. Recent two-day K-line charts show narrowed market fluctuations, with hourly levels repeatedly trading between 2970-2990, indicating a short-term oscillation pattern. In terms of trading volume, it has gradually shrunk over the past three days, with the latest daily volume at only 4291.45, far below the high levels from 14 days ago, indicating weakened trading sentiment and a strong market wait-and-see atmosphere. Combining news and analyst opinions, the current market sentiment is cautiously optimistic. Some analysts have repeatedly emphasized long positions, reflecting that mainstream traders have not fully turned bearish but are strictly executing take-profit and stop-loss orders. Recent news also suggests an increased short-term bullish willingness, but the rebound height is limited by profit-taking and resistance zones. Overall, the market has experienced a quick surge followed by correction, entering a consolidation and accumulation phase.

2. Technical Analysis
From the 14-day daily K-line perspective, the highest point of 3447.44 occurred within the past 10 days, followed by a long bearish candle decline, with the lowest reaching 2775.19. The current close at 2976.07 is approaching the mid-range of the past two weeks, indicating that most of the gains have been retraced. Short-term support is mainly around 2973–2940, an area that has repeatedly stabilized and rebounded last week. If broken downward, support will shift to around 2880 (based on analyst stop-loss levels and previous lows). Resistance is mainly between 2997–3020, an area that has seen multiple pullbacks and where recent rebounds have struggled to break through effectively. Hourly K-line analysis shows that within 48 hours, short-term highs are concentrated between 2989.3–2995.52, with the lowest at 2936.3. Most of the time, prices hover between 2970-2985, with narrowing volatility and a clear decline in trading volume from high levels. Volume over the past 10 hours remains below 2000, indicating increased short-term caution among funds. The overall trend shows signs of range-bound consolidation with weakening upward momentum.

3. News and Policy Interpretation
Market news indicates that the Ethereum ecosystem remains active, with continuous growth in new wallets, reflecting renewed user interest. However, this has not directly driven sustained price increases, and prices remain under pressure. Reports also note that major cryptocurrencies like Bitcoin and ETH have experienced high-level consolidation after stage-wise rallies, with some profit-taking accelerating outflows, and short-term speculative positions being liquidated, further suppressing the trend. Recent news includes Vitalik selling various crypto assets and large transfers, and the Ethereum Foundation stating that future development will focus on security governance, implementing large-scale 128-bit security standards. These messages do not show immediate policy benefits and are more aligned with market stability and long-term prospects, but they have not significantly driven short-term speculation. Policy checks reveal no new major policy information within the past day, week, or month, indicating limited impact on the current market.

4. Analyst Opinions
Analysts generally favor buying on dips and emphasize strict stop-loss strategies. For example, one states, “ETH long positions around 2910–2940 with SL at 2880,” clearly defining the long entry range and stop-loss, consistent with the main consolidation zone on the hourly chart. Another analyst notes, “ETH long positions have taken 70% profit, with a large profit margin,” indicating effective recent execution and strong profit-taking mentality. Additionally, some analysts comment, “ETH surged rapidly above 3000 and then quickly fell back,” reflecting swift bull-bear shifts and obvious resistance to rebounds. The statement “Long positions still have 30% profit, just move stop-loss to break-even” emphasizes risk control, with overall strategies focusing on high sell and low buy within ranges. Comparing these views with actual K-line performance, the entry zones and high-probability exit strategies align closely with current market rhythm. The rapid decline from high levels is confirmed by daily and hourly charts, indicating high accuracy of these analyses.

5. Future Trend Forecast and Trading Suggestions
Based on the K-line trend, ETH is currently consolidating sideways between 2970-2990, with momentum slowing down, and market direction still needing further confirmation. If prices hold above 2970 and break through 2940 with increased volume, there is potential to retest resistance at 2997-3020. If broken below 2940, a strong support near 2880 is likely to be tested, opening room for correction. Investors should focus on the 2970-2997 range for long and short battles. If prices fall below 2970 with increased volume, strict stop-loss at 2880 is advised, waiting for a low-buy opportunity. Conversely, if a short-term rebound breaks through 2997 with volume recovery, small positions can be added for longs, targeting around 3020 for profit-taking. Overall, the strategy should prioritize short-term high sell and low buy, quick entry and exit, avoiding chasing rallies or heavy positions.

6. Risk Warning
Current market volume has sharply declined, and volatility has narrowed, but previous long bearish candles and significant declines imply hidden risks in the short term. The key support zone is between 2970–2940; a volume-driven breakdown could trigger a multi-sell scenario, with prices potentially falling back to around 2880. Short-term volatility can be easily affected by sudden large capital movements. Investors should strictly set stop-losses, monitor market sentiment, and avoid blind chasing or heavy positions. In summary, ETH is undergoing short-term consolidation, with a near-term directional choice. In the face of fierce battles between bulls and bears, operating within high and low zones is advisable, with risk control as a priority.