ETH 1-Hour Price Analysis — Weak Consolidation Seeking Support

Resistance Levels

• First Resistance: $2990-3000 (MA20 + recent consolidation upper boundary, short-term selling pressure zone)

• Strong Resistance: $3090-3120 (MA100 + previous decline platform, medium-term key resistance)

Support Levels

• First Support: $2930-2940 (recent consolidation low + MA30 support, short-term stabilization level)

• Strong Support: $2865-2880 (current correction low, core defense line for bulls)

Technical Indicator Interpretation

1. Moving Averages: Short-term moving averages (MA5/MA10/MA20) are intertwined and flat, with MA5 crossing below MA10 forming a weak death cross, indicating short-term rebound momentum is exhausted; medium-term moving averages (MA30/MA50/MA100) remain in a bearish alignment, the medium-term weakness persists, and price is below short- and medium-term moving averages awaiting direction.

2. MACD: The two lines are flat below the zero axis, with the red histogram gradually narrowing then turning green, indicating the rebound is merely a technical correction, with bearish momentum regaining dominance, and the zero line acting as a clear resistance.

3. RSI: Current reading is 40.13, in a neutral to slightly bearish zone, the indicator continues downward testing, market sentiment is cautious, with no overbought or oversold pressure but insufficient rebound strength.

4. Volume: Recent trading volume remains low, with no significant increase in bullish candles during the rebound, volume consistently below MA5/MA10 average lines, indicating the market is dominated by internal capital battles and lacks incremental funds to push higher.

5. Bollinger Bands: The bands are narrowing, with the upper band trending downward and the lower band flat, with price operating below the middle band, indicating a clear consolidation pattern. The middle band at $2980 is a key level for short-term bulls and bears to contest.

Summary

ETH on the 1-hour chart is in a weak consolidation phase seeking support. The short-term weak death cross of moving averages shows rebound momentum is fading, and support zones face testing. The medium-term bearish alignment of moving averages and insufficient volume restrict upward movement. The market is at a critical point of bullish and bearish forces battling; future direction depends on the stabilization of key support levels and the coordination of volume and price. Until clear signals emerge, the weak consolidation pattern is unlikely to change. #Gate每10分钟送1克黄金