Currently, ETH is showing a volume-downward decline, with the price falling across multiple K-lines, indicating short-term bearish dominance. Technical indicators such as RSI and KDJ are both in extremely oversold conditions, theoretically suggesting a possible short-term rebound at any time. MACD remains in a bearish arrangement, and the trend has not yet turned strong. It is important to note that the current price is very close to the 2,905 USDT support level. If this support is broken, it could trigger further forced liquidations and slippage risks (according to news, if the 2,900 level is broken, it will trigger a liquidation of 5.27 billion USDT worth of longs). However, if the support holds, the rebound space is in the 2,950-2,970 USDT range.