Based on the recent 4-hour K-line trend of Ethereum (ETH), the price is generally in a weak oscillation state. Compared to 2026-01-24 16:00:00, the current price has experienced a noticeable decline; however, when comparing over a longer period to 2026-01-23 08:00:00, there is still some rebound in the price. Nevertheless, relative to 2026-01-24 00:00:00, ETH has fallen again, indicating insufficient short-term rebound momentum.

In terms of K-line patterns, the most recent candle is a small bearish candle, with the closing price below the opening price, indicating that the bears still hold the advantage. However, the downward force is not extreme, more reflecting a oscillating pullback.

From the volume perspective, recent trading volume has been continuously decreasing, significantly shrinking compared to the previous four-hour periods, showing a trend of falling prices with declining volume. This usually indicates reduced market participation, a cautious capital sentiment, and a generally冷清 trading atmosphere, with a lack of strong short-term momentum.

Regarding technical indicators, MACD does not provide a clear trend signal. Although the histogram remains above the zero line, it is continuously shortening, reflecting weakening bullish momentum. The market is shifting from strength to weakness, entering a phase of direction selection.

The KDJ indicator also remains neutral, with no obvious golden cross or death cross. The KDJ values are around 54, with a slight downward trend, indicating a weak short-term outlook but not yet in an extreme state.

Combining the 4-hour technical indicators, the key price levels are as follows:

Buy reference level: 2939.88

Second buy level (strong support): 2913.00

Long position stop-loss: 2925.18

Sell reference level 1: 3123.37

Sell reference level 2 / key resistance: 3022.00

Short position stop-loss: 3138.99

Structurally, 2913.00 is the most important short-term support level. If broken, ETH may weaken further; 3022.00 forms the main resistance above. If it cannot stabilize effectively, there may still be selling pressure near this level.

Overall, ETH is currently in a weak oscillation zone, with diminishing bullish momentum and light trading volume. The short-term trend favors range-bound trading. Until there is a volume breakout above resistance or a breakdown below key support, the risks of chasing rallies or aggressive operations are relatively high. It is more suitable to wait for a clear directional move at key price levels. #GateDEX