ETH's performance today is a bit mixed. Currently quoting at $2881, having already retraced 3.3% intraday. From the 1-hour perspective, it is in a critical consolidation zone, with bulls and bears pulling in opposite directions.

Technical signals are quite interesting. The candlestick is under pressure below the short-term moving average, and the MACD green histogram is clearly narrowing, indicating that bearish momentum is weakening and bulls are showing signs of a slight rebound. The KDJ indicator is now hovering around the neutral 42 level, not yet providing a clear directional signal. The RSI is approaching the oversold zone, suggesting that a rebound is building on this basis.

The key support zone is between $2870 and $2890. If this holds, it’s likely the start of a low-level consolidation rebound. If it breaks below $2870, there’s still room for a further dip to around $2850. On the upside, the first resistance is at $2920. If a volume breakout occurs here, there’s a chance to test the short-term high at $2950.

From a capital flow perspective, although trading volume has slightly increased, the buying momentum is weak. The market remains dragged down by the risk-averse sentiment of the broader market, and an independent trend has not yet formed.

The 1-hour trading strategy is straightforward: if support stabilizes, consider a small long position targeting $2920; but if it falls below $2870, stop-loss immediately. Do not hold through the decline or chase short positions.