#ETH走势分析 Ethereum's recent price action, to be honest, is a bit awkward.

Looking at the 15-minute chart, the price rebounded from 3120 to above 3140. I thought it could hold, but it chickened out again. With several consecutive red candles, each high is lower than the last—a classic "fake-out" move. What's worse is the volume: volume increases on the drop and shrinks on the rally—funds clearly have no intention of chasing higher. Bulls are just paper tigers right now.

Zooming out to the 1-hour chart, it's even clearer. The price barely climbed to the 3150-3160 range, then got smashed back to 3120 by a long red candle. Now it's just grinding sideways at the lows, with no meaningful bullish engulfing or signs of a bottom. Frankly, it's just a sideways correction after a breakdown. Trend reversal? Not happening yet.

**Indicators aren’t cooperating either**

On the 15-minute MACD, the DIF is below the DEA, and the green bars are lengthening—bears have regained control. Key point: there's no bullish divergence, which means this drop could continue.

The 1-hour chart is even harsher, with a death cross plus growing green bars—a double whammy. This shows the downtrend on the hourly timeframe is still playing out. That recent bounce? Just a pullback confirmation, don't take it seriously.

RSI on both timeframes is stuck in the 40-50 range, which is weak and choppy. Looking for a V-shaped reversal? Nowhere close with this kind of action.

**Key levels to watch**

Looking down, 3120 is the current short-term support and has been tested multiple times. If it breaks, bears could accelerate the drop. Below that, 3106 is yesterday's low—break that and it forms a new lower low. The real strong support is at 3065-3070, which is the last line of defense for the main bulls. If that goes too, you’ll have to look at it as a downtrend on the 4-hour chart.

To the upside? 3145 is the recent high and the starting point of the failed rebound—the first hurdle. Around 3160, the 1-hour MA10 is pressing down, which is strong resistance. Want to reverse the mid-term trend? You need to reclaim at least 3190, otherwise it's still a bear market.

**How to view what's next**

The current structure is "weak rebound followed by continued weakness"—bulls are clearly failing. The 1-hour chart is still releasing bearish momentum; each bounce just gives bears a better entry price.

If 3120 doesn't hold, it's highly likely to accelerate down to 3106, or even straight to the 3070 area. Want to turn strong? You need to get back above 3160, and the 1-hour MACD death cross needs to be fixed. Otherwise, these rebounds are all fake—don’t get tricked.