📊 ETH/USDT 4H Technical Analysis - Continued Low-Level Consolidation#特朗普取消对欧关税威胁

1. Trend Structure and Moving Average Patterns

The price has pulled back from the previous high point, finding support at 2,863.86 USDT and entering a correction phase. Currently, the price has dipped to the 2,945.70 USDT level. The short-term MA5 and MA10 are showing a death cross pattern, with the price breaking below short-term moving averages, indicating that short-term bearish momentum is temporarily dominant; medium- and long-term moving averages (MA20, MA30, MA50, MA100) remain in a bearish arrangement, with the price being suppressed by MA20 (3,002.91 USDT). The medium-term downward pressure persists, and the correction rally faces resistance and pulls back.

2. Volume-Price Relationship and Capital Flow

Recently, during the pullback phase, trading volume has decreased compared to the rebound period. The volume moving averages are also turning downward, indicating reduced willingness of market funds to absorb positions, and short-term longs are exiting. Currently, there is no panic selling volume, suggesting selling pressure has eased, but volume has not expanded significantly. Future focus should be on the direction after consolidation with decreasing volume; if volume breaks support with expansion, the downside risk will increase further.

3. Multi-Dimensional Technical Indicator Validation

• MACD: DIF and DEA are closely aligned below the zero line, with red bars turning green and then narrowing, indicating short-term bullish momentum is waning, and bearish forces are regaining strength. The indicator has not yet broken above zero, remaining a weak signal. A trend reversal in the medium term requires the indicator to effectively break above zero and for the red bars to continue expanding.

• RSI: The current value is 35.34, in a neutral to slightly weak zone, not yet entering overbought or oversold territory. Short-term pullback still has potential space, with no clear signs of momentum exhaustion. Attention should be paid to the RSI turning downward; if it encounters resistance near the 30 level and rebounds, a phase rebound is likely.

4. Key Price Levels and Market Dynamics

Resistance Levels

1. 2,978 USDT: The MA10 resistance level, serving as the first key obstacle for short-term rebounds. A significant breakout requires volume support; without volume, upward attempts are likely to encounter resistance and pull back.

2. 3,002 USDT: The MA20 moving average resistance, a core point for medium-term trend reversal. A volume-supported stabilization above this level would ease medium-term bearish pressure and open space for further upward movement.

Support Levels

1. 2,950 USDT: The lower boundary of recent consolidation, an important short-term support level for bulls. Falling below this would weaken the correction trend, trigger short-term longs to exit, and cause the price to revert to weak consolidation.

2. 2,863.86 USDT: The previous low during the downward move and the starting point of this correction rally, representing a short-term trend watershed. A confirmed break below this level would mean the correction has failed, and the price would resume downward movement.

Overall, ETH/USDT on the 4-hour chart is in a phase of resistance and pullback after oversold correction. Short-term bearish momentum has increased, but medium-term support remains. The subsequent trend will mainly depend on the strength of the 2,950 USDT support and whether resistance levels can be broken. Volume and price action will be key to the continuation of the trend.