The four-hour level directly broke below the lower Bollinger Band at 2954. The MACD green histogram continues to expand, and the KDJ three lines have entered the oversold area but show no signs of reversal. The technical trend resonates with macro sentiment, further amplifying the downward movement. However, in the long term, the Federal Reserve's easing cycle still provides liquidity support for the market. If subsequent employment data weakens and triggers more rate cuts, the price is expected to rebound around the 2890 support level. In the short term, caution is needed: if the 2890 support is lost, the price may decline further to 2718.