The second dog’s dream of heading north is shattered. How long can the 3000 level hold?

At 3:30 AM, the current price is 2995, and the market is quite lamentable. The crucial support level at 3170 was regrettably broken, and the attempt to break through northward has failed, forcing a regretful exit. Going with the trend, I chose to lock in part of the profits at the 3000 level, while keeping the core position for further observation. When major funds approach the psychological level of 3000, the market is likely to enter a period of oscillation and tug-of-war. For friends optimistic about mid-term positioning, it’s advisable to patiently wait for a more ideal entry point below 3000 before planning another northward move.
From the daily chart perspective, before this report, the highest was 3200, the lowest 2980. The EMA trend indicator continues to contract, making the direction unclear. The resistance at 3170 has shifted from support to strong resistance, and the rebound may face obstacles. The key mid-term support can be watched at the 0.618 Fibonacci retracement level around 2750. The volume increase indicated by MACD has ended, with DIF and DEA forming a death cross and beginning to shrink, hinting that major players might be quietly accumulating. Support at the lower Bollinger Band is around 2965. The overall trend is bearish, with downward momentum still present.
Looking at the four-hour chart, the sharp decline trend has already formed. EMA15 quickly crosses below other moving averages, converging around 3165, forming a “death cross” of four lines, indicating that bears are in control. MACD continues to shrink, with DIF and DEA both falling below zero, suggesting a strong bearish atmosphere. The lower Bollinger Band has moved down to 3030, and major funds are alternating around this level, moving south. The short-term level has entered an extremely oversold area, and a rebound is imminent. For friends who have not yet entered, patience is recommended. Wait for the correction to stabilize before seeking a good opportunity to go south. At this point, be cautious when attempting to bottom fish northward. #eth $ETH