Recently, Ethereum touched around 2890 again, which is already the fourth consecutive bounce at this level on the 4-hour chart. So now, the focus of the operation is on this 2890 level—once it breaks below, there’s a high probability of another downward wave.

From a technical perspective, the 4-hour chart shows that Ethereum’s recent price has been oscillating between 2900 and 3000, with the overall trend being weak and lacking a clear direction. On the daily chart, there are two consecutive bearish candles on December 23 and 24, both with relatively long upper shadows, indicating significant selling pressure above.

Regarding indicators, the 4-hour MACD’s DIF and DEA are both below the zero line, although there are signs of a golden cross, but the strength is insufficient; the daily MACD still shows a death cross, so the bearish trend remains dominant. The RSI is interesting—on the 4-hour chart, the RSI value is at 42.83, approaching the oversold zone, which suggests a potential rebound; however, the daily RSI remains weak, with no obvious bullish divergence signals. As for moving averages, the current price is below EMA7 (2939.94), while EMA30 (2953.09) and EMA120 (3005.28) form a bearish alignment, indicating a predominantly bearish trend.

Volume is quite sluggish—4-hour volume is gradually decreasing, and the market is in a wait-and-see mode; since the big rally on December 19, the daily volume has been steadily declining, indicating weakening market momentum.

**Trading Strategy:**

It is recommended to look for short entry opportunities around the 2900-2910 range for Ethereum, with targets around 2860-2820. It should be noted that this strategy is for reference only; actual trading should be based on your own risk tolerance.