#比特币对比代币化黄金 Ethereum’s recent price action is quite interesting—technical indicators and price are at odds.

Looking at the 1-hour chart, the MACD has formed a golden cross below the zero line, which is usually a bullish signal. But what about the price? It’s still heading down. This kind of divergence usually means what? There might be a technical rebound in the short term, but whether it can hold is uncertain.

A few key price levels to watch:
On the upside, $3,130 is a hurdle—it’s failed to break through several times recently. Above that, there’s the $3,270 zone.
On the downside, $3,000 is a psychological round number and a major battleground between bulls and bears. If that level doesn’t hold, we might see tests of $2,850 and $2,670.

What’s interesting is that there are two opposing forces in the market: The Ethereum Foundation has recently been moving ETH, which makes people a bit nervous; but at the same time, BlackRock’s Ethereum-related products have been attracting consistent inflows over the past two weeks. These conflicting signals often amplify short-term volatility.

My take? In the short term, ETH might test the $3,130 resistance, but the key is whether trading volume supports the move. If the rebound lacks volume, it’s likely to get pushed back down at that level again. For the medium term, it all comes down to whether the $3,000 support can hold—this will determine whether ETH continues to consolidate at the bottom or drops to seek deeper support.