#美联储降息 ETH Today Lunchtime Market Overview: Repeated Battles in the Downtrend Channel

【The Truth About the Bull-Bear Tug-of-War】

ETH has been struggling since dropping from 3170, with the daily moving average system acting as resistance, and the price finding no breathing room below. However, a double bottom formed at 2870 on the 4-hour chart, firmly supporting the downward momentum. Currently, both bulls and bears are stuck here, unable to gain the upper hand.

The bottom line for bulls is in the 2870-2890 range. After a quick spike yesterday, it quickly pulled back, indicating some buyers are still holding. On the bear side, they are using the middle Bollinger Band at 3000 and 3070 as fortresses, with each rebound being suppressed. BTC is temporarily steady at 87,500, which has dragged down the entire market, and the fear index is approaching extreme fear. The only slightly positive sign is that the US stock crypto stock Hut8 rose nearly 4%, providing some market confidence.

From a technical perspective, the 4-hour RSI is climbing away from oversold territory, and the MACD shows signs of a bullish crossover below zero. The 1-hour Bollinger Bands are tightening, and after a sideways session this morning, it seems like something is brewing.

【This is not a reversal, just a correction】

Remember, the true battle zone is between 2920-3030, where both sides have defenses. Don’t be fooled into entering on a small rebound and becoming the bag-holder. Without a breakout, there’s no one-sided trend—just choppy, frustrating oscillations.

【How to get in】

For longs, buy the dips and avoid chasing the rally: the 2900-2930 zone is a bottoming point. Once you hit yesterday’s retracement low, you can start. The first target is 2980-3000.

For shorts, only short on rebounds, not chasing after a drop: the 3020-3050 zone is a good short area. Previous support has turned into new resistance. The first target is 2960-2950.

Just be patient and wait for the right levels. Don’t operate blindly.