ETH

After breaking above 3000 and consolidating sideways, it failed to hold above 3000 and then declined smoothly, returning to a low-range sideways zone, exactly the same as the "drawing door" style during this period.
Technical Analysis
Bollinger Bands 1-Hour Analysis
The Bollinger Bands are contracting downward, with the upper band at 3016, the middle band at 2950, and the lower band at 2885. The candlestick broke below the middle band yesterday afternoon and then oscillated between the middle and lower bands.
MA 1-Hour Analysis
MA5 corresponds to a price of 2935, MA10 to 2933, and MA30 to 2961. MA5 and MA10 have broken below MA30, now showing a low-level crossover, sideways consolidation with no clear direction.
MACD 1-Hour Analysis
The two lines are below the zero axis, with the fast and slow lines tending to be parallel, showing a crossing trend, with bearish momentum gradually decreasing.
RSI 1-Hour Analysis
The two lines formed a golden cross during the oversold phase at 4 a.m., currently the fast line is in the overbought zone, and the slow line is about to enter the overbought zone.
Comprehensive Analysis
A classic "drawing door" pattern. Currently, in a strong downtrend, the market tends to short after rallies at high points. Market sentiment remains relatively subdued, and there is little optimism about upward movement. This pattern has been consistent for the past one or two weeks—rallies attract many short sellers.
Resistance: 2960
Support: 2920
Strategy: Short at high points, open short positions near 2960. If the price continues to rise to around 2990, add positions at 1:1/2/3 ratios. Place a stop loss if the price effectively breaks above 3000. If the price drops to around 2900 and rebounds weakly with a confirmed breakout, consider taking profit at 2800.