#美联储恢复降息进程 ETH has now reached a rather delicate node.

From a technical perspective, the short-term structure does indeed lean bullish. However, the signals of divergence between price and volume are already very obvious—upward momentum is actually not very strong. Want to break through the key resistance level? It's not that easy.

The answer given by the liquidation heat map is very straightforward: 2950 is a watershed. Whether it can break through this level with volume basically determines the direction going forward. If the breakthrough is successful, a short squeeze could push the price directly into the 3000-3050 range, which offers a decent profit margin. However, if it fails to hold, and falls below the support at 2921, then one must be prepared for a pullback to 2900-2880, and it may even continue to explore lower.

On the macro level, there are some positive factors. The expectation of a shift in the Federal Reserve's policy is still present, and there are signs of institutional capital returning. Coupled with the technical upgrades of ETH itself and institutional layouts, the foundation looks relatively solid in the long term. However, in the short term, there is a lack of catalysts. The direction of the price still depends on whether the technical aspect can break through and how the market sentiment evolves.

Don't act impulsively in your operations. For those who already have positions, remember to set a stop-loss level and decide to increase or reduce your position based on the actual price breakout situation. If you are still observing, the aggressive ones can watch the 15-minute chart and try to go long with a light position when the volume breaks above 2950, but the stop-loss must be strict; the conservative approach is to wait for the daily close to stabilize above 2980, or to enter after a pullback to 2900 stabilizes.

At this stage, don't be swayed by emotions. See the trend clearly, and wait for the signals to be clear before taking action.