ETH: Market Analysis

High points decreasing sequentially, top continuously suppressed by the descending trendline
Multiple re-tests of the same horizontal level below form a lateral support zone (approximately 3270–3280)
Typical descending triangle structure and weak consolidation; after the recent break below support, quick recovery occurred, but the rebound height is clearly limited by the bears, indicating a weak rebound. The structure remains in a downward consolidation phase.
Although there is a rebound from the lows, the rebound waves are getting shorter, with multiple secondary double tops forming below the trendline. The current price is close to the support zone for sideways trading, with reduced volatility, indicating a pre-breakout compression zone, leaning more towards a downward breakout.

First Support (Short-term Main Support)
3270–3280 multiple re-tests forming a horizontal bottom; current price is above this zone, at the lower boundary of the descending triangle structure
Second Support (Support)
3220–3230 previous low-density trading zone; after breaking this, it enters the first deceleration zone
Strong Support (Defensive Level)
3180–3200 previous rally zone; prices here are prone to technical rebounds
First Resistance (Trend Resistance)
3320–3340 current descending trendline area; multiple failed rebounds, bears defend this zone
Second Resistance (Structural Reversal Zone)
3380–3400 previous high-density zone; only a firm hold here indicates a strengthening of the structure
Conditions for a Bearish Structure: Break below 3270, rebound fails to return above 3300
Conditions for Strengthening: Volume increases and stabilizes above 3340, retesting without breaking below

Risk Points:
Effective break below 3200 with short-term inability to recover signals the end of the high-level oscillation structure and enters a secondary correction
Target: 3150–3060
Volume breakout above 3350–3400
Failure of bear defense may lead to trend reversal and upward surge
In the short term, the market is in a weak oscillation recovery phase after a decline, with 3250 as the core support, and 3310–3330 as the rebound resistance zone. Until stabilized, the overall structure remains biased bearish.