January 2nd ETH Technical Analysis (As of 11:30, current price approximately 2990)

- Core judgment: Volatile with a slight bearish bias, double top + death cross resonance, weak rebound
- Intraday range: 2960-3010; key resistance at 3010/3030; key support at 2960/2930

Key Patterns and Indicators

- 4-hour: Double top (3008/3005), MACD death cross, broke below EMA120, bearish dominance
- Daily: Two consecutive long upper shadows, heavy selling pressure at the 3000 level, MACD death cross, 7/30-day moving averages (2992/2988) will form a death cross
- Volume: No volume on rebound, low trading activity, weak continuation

Short-term Trading Strategy

1. Focus on selling high: Light short positions at 3000-3010, stop-loss above 3030, target 2970-2960
2. Support for long positions at low: Light long positions at 2960-2950 with stabilization, stop-loss below 2930, target 2990-3000
3. Risk management: Single position ≤5%, strict stop-loss; adjust direction if breaking above 3030 or falling below 2930