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Ethereum touched the 3138 integer level in the early morning and then cooled off. The middle band of the hourly Bollinger Bands is creating resistance, and both MACD and KDJ indicators are showing weakness, indicating that the bears have a clear advantage.
Recently, the market has been oscillating around 3100, with the overall pattern leaning towards a downward trend. From a technical perspective, if there is a rebound back to the 3145-3185 range in the short term, consider shorting at high levels.
Key support levels are sequentially at 3085, 3050, and 3020. If the 3085 level is broken, caution is advised as there is a risk of accelerated decline. The current market is in a technical adjustment phase, and it is recommended to control risk exposure.