#美联储重启降息步伐 The recent ETH trend is quite interesting—on the 1-hour chart, the MACD has formed a golden cross below the zero axis, but the price is still falling. How should we interpret this divergence signal?

From a technical perspective, there might be a short-term rebound brewing. Looking up, $3,130 is a tough resistance; it’s been stuck there several times recently. If it really breaks through, there’s another hurdle around $3,270. On the downside? The $3,000 round number must hold—this is the lifeline in the battle between bulls and bears. If it breaks, we could visit $2,850 or even $2,670.

What’s even more interesting are the on-chain moves. The Ethereum Foundation has been transferring ETH lately, which is thought-provoking. But at the same time, BlackRock’s ETHE product has seen a massive inflow of funds over the past two weeks. With selling on one side and buying on the other, this market tension could increase volatility.

My view? Testing $3,130 in the short term wouldn’t be surprising, but it depends on whether trading volume keeps up—if volume is weak during the rebound, it’s likely another bull trap, and it’ll stall at that level. The key for the mid-term is whether $3,000 can hold; if that level is lost, things could look ugly ahead.

So, is this golden cross a real rebound or just a fake-out? Let’s keep watching for now.