$ETH

After a sharp decline, testing the key support level, 2950 is the dividing line between bulls and bears. There is a short-term rebound expectation, but the overall weakness remains unchanged.

3446+3380 form an M-head pattern, with the neckline under test; the 4-hour K-line shows a lower shadow around 2950 indicating support, the downward momentum is temporarily slowed, but the volume increases during the decline, indicating strong selling pressure.

✅Key Level Clear Version

Immediate support: 2900-2950 (previous dense area top, a break below will lead to rapid decline)

Strong support: 2800-2850 (the last line of defense for the bulls)

Short-term resistance: 3050-3100 (failure to break above indicates a weak rebound)

Strong resistance: 3250-3300 (a dense area of trapped positions)

Current rhythm: bears dominate but are approaching strong support. Avoid blindly shorting; the rebound still depends on the strength of resistance breakout!