#ETH Intraday Analysis

1️⃣ Structure Interpretation
Ethereum ultimately reached the support zone 2 that we referenced yesterday and rebounded from there. Currently, the price is around 2970. For this kind of decline, our plan indicates that there was some expectation here. Unfortunately, we were sleeping during the decline and did not add to our position at the lowest point. Let’s see if today can provide two entry opportunities. To clarify again, the current market is a bearish market, and our attempt to go long is a contrarian move. Therefore, our position size should not be heavy.
2️⃣ Capital Flow & On-Chain & Exchange Dynamics Observation
Capital Flow and On-Chain Information
a. ETH has not shown obvious “large inflows or outflows today” recently, and trading volume remains generally subdued. Coupled with BTC volatility, this indicates that risk appetite for cryptocurrencies, including ETH, is decreasing.
b. There are no verifiable reports on the public chain indicating “whales selling massively during the current decline cycle” or “concentrated liquidation.”
c. Due to the short-term weakness in ETH ecosystem activity (such as gas fees and DeFi interactions), this usually reflects no significant improvement in market demand.
3️⃣ Intraday Observation and Key Level Projection
Bearish Direction (Short-term, Cautious)
• First, monitor ETH around 3008. If there is obvious stagnation and volume does not support an upward move, consider a light short position;
• The main target below is 2970-2910;
• Stop-loss can be set slightly above the resistance level.
Bullish Direction (Rebound)
• If ETH forms a solid support at zone 1 and shows increased volume with a rebound, consider a small long position;
• Set the stop-loss below the breakdown of zone 1 support;
• The initial target is around 3008. Temporarily, the band is seen at zone 1 resistance.
4️⃣ Risk Warning
Based on today’s capital flow and structure performance, the main risks for ETH today are:
Correlation downside risk: ETH has a high correlation with BTC. If BTC breaks below key support, ETH may experience earlier and more severe declines;
Rebound without volume support risk: When ETH rebounds without volume confirmation, it is easily suppressed by bears and falls back;
Overall asset sentiment weakening risk: The overall market risk appetite is declining, leading to insufficient bullish momentum for ETH.