As of 20:20 (UTC+8), ETH is quoted at $2942, showing weak sideways movement intra-day. The trend is likely to continue oscillating weakly in the evening, watch out for the risk of volume-driven breakdown.

Key Levels

• Resistance: $2980-3000 (intraday high + psychological barrier), strong resistance at $3050 (trigger point for short liquidation).

• Support: $2920-2900 (intraday lower bound), strong support at $2850 (area of dense long liquidation, a breakdown may trigger sharp volatility).

Technical Analysis (1-hour / Daily Chart)

• RSI around 39-40, leaning bearish; MACD bearish crossover, indicating dominant bearish momentum.

• Volume shrinking, rebound lacking strength, overall following BTC downward, lacking independent strong signals.

Evening Trend Outlook

• Baseline scenario: Narrow oscillation around $2920-2980, volatility may increase, with a high probability of testing support downward.

• Breakdown scenario: Volume-driven drop below $2900, watch for rapid decline to $2850; volume-driven rise above $3000, or testing $3050, but with lower probability.

Trading Recommendations

• Mainly observe, trade with light positions, strict stop-loss: short positions stop-loss above $3000, long positions stop-loss below $2900.

• Focus on two liquidation nodes at $2850 and $3050, to prevent sudden volatility caused by liquidity shocks.