The 4-hour moving averages show a nascent bullish arrangement, with prices holding above the EMA7 and EMA30 support bands. However, the MACD shows a top divergence, with higher trade volumes decreasing and a pullback demand present. On the daily chart, the MACD histogram has turned positive for five consecutive days, enhancing the recovery momentum. However, the upper EMA120 (3119 USD) and the 3100 - 3130 range show significant resistance, making a substantial breakthrough difficult in the short term. The key support below is at 2980 USD, while 2930 USD forms a secondary strong support.

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Operation suggestion: Still adopt the strategy of holding above for short positions and long positions. Short positions can be arranged in the range of 3060 - 3100, with a stop loss above 3130, targeting around 3000, and if broken, can extend to 2980; long positions can be attempted in the range of 2970 - 2980, with a stop loss at 2940, targeting around 3050. #ETH