#数字资产市场动态 ETH is back on a rollercoaster—1-hour chart looks quite dangerous!

Everyone, this wave of the market is really playing out according to my previous plan. ETH surged to 3368 and then had a straight plunge. Now it’s consolidating with decreasing volume at the lows, following a "trap and rebound" rhythm without a hitch.

How to interpret the technicals? The breakdown is very clear—3368 is almost the neckline of a double top on the hourly chart. Once the volume increases and it breaks below 3280 support, the bears will start to dominate. The MACD indicator is still dead below the zero line, with no signs of convergence in the bars, so the downward momentum still has room to release; the price is being tightly pressed down by all EMA lines, making rebounds very difficult.

The 3220 to 3260 zone was previously a dense area of trading, and the bulls are still struggling there. But each rebound high is getting lower, and the weakness is now confirmed.

On-chain, there are dark currents—whales have been selling above 3360, and Smart Money has actually increased inflows to exchanges over the past 24 hours. Short-term selling pressure has not eased. Futures funding rates have turned slightly negative, but not to the point of despair, indicating the market is bearish but not panicking. However, this also means the rebound lacks strong momentum.

External pressures are significant. Macro expectations for rate hikes are swinging back and forth, and risk assets are being hammered across the board. ETH itself doesn’t have major negative news; the problem is there’s no independent bullish story. It’s still following BTC’s rhythm.

How to operate? In the short-term 24-hour window, ETH between 3220 will face a fierce battle between bulls and bears. A technical rebound is definitely coming, but it won’t go too high—3280 (the previous support, now resistance) is the first "danger zone," and above 3350 there are a bunch of trapped positions. It’s impossible to surge straight up.

I still hold my short position. I’ll consider adding to it if the rebound reaches 3270-3290. For spot traders, patience is key; the buy signal has not appeared yet. The real opportunity is here—either wait for the hourly chart to stabilize above 3300 with a MACD golden cross, or wait until the volume breaks below 3180 and panic selling is truly cleared out, with a bullish divergence appearing.

Remember: the market always rewards those who are patient and disciplined. $ETH