I. Market Overview

The current market price of ETH is $2900.5 (according to the latest K-line data close price), showing a significant downward trend in the recent market. The closing price from the previous day was $2991.26, with a drop of over $90 within just one day, expanding short-term volatility. Compared to the daily K-line data over the past 14 days, ETH has been continuously weakening from a high of $3918.23, with three consecutive days of lower closes, gradually approaching the $2900 mark. In terms of trading volume, the daily trading volume in the last 24 hours is 19537.9, which has significantly shrunk compared to previous peaks (such as the trading volume of 487417 on the 287th day), indicating a decline in short-term market activity and tightened liquidity. The overall market atmosphere is dominated by risk sentiment, with investors becoming more cautious. Comprehensive news indicates that "ETH is receiving attention from major market funds, but some institutions have recently reduced their holdings, along with clear technical pressure" (see details below).

II. Technical Analysis
1. Support and Resistance
The most direct support level for ETH is at the low of $2885 in this cycle (data source: latest daily K-line). If it falls below this, there is a possibility of further decline into a lower range of this wave. The upper resistance is concentrated in the $3000-$3050 range, with multiple high points distributed, such as $3053.02 and $3045 (14-day K-line). The points of contention between bulls and bears are evident.
2. Trends and Momentum
From the 14-day daily line, since the high of $3918.23, both highs and lows have continued to decline, forming a clear downward channel. Recent 48-hour hourly K-line data shows that after briefly consolidating at the $3030-$3040 price range, the price has suddenly broken down with increased volume, significantly expanding the daily fluctuation range. The latest hourly trading volume of 19537.9 is notably higher than the average of the previous few hours, reflecting intensified panic selling. The current technical structure is weak, with downward momentum and obvious characteristics of feeble rebounds.
III. News and Policy Interpretation
The latest news indicates that Yearn Finance has suffered a security attack, with 1,000 ETH stolen and flowing into Tornado Cash. Although the report does not directly impact policy changes, it has clearly suppressed sentiment towards ETH in the short term. Observing the K-line data in real-time, after the attack news was released, the price of ETH accelerated its decline, and liquidity has significantly tightened. Meanwhile, the ETH holdings reported by OKX have shown a decrease, indirectly reflecting investors' risk-averse or reduction behaviors, while BTC and USDT assets have strengthened. Industry viewpoints also point out that $3000 is an important psychological barrier for ETH, but on-chain and chart pressure zones lead to weak rebounds. In terms of policy, there have been no new policy dynamics in the past 24 hours, and the policy environment remains neutral, with no favorable variables seen in the short term to reverse the market for ETH.
IV. Analyst Opinions
Currently, no analyst opinion data is provided, making it impossible to quote or compare analyst viewpoints. If relevant opinions are obtained later, it is recommended to strictly correlate them with real market changes for reevaluation.
V. Future Trend Outlook and Operational Suggestions
Based on the already apparent downward structure and the latest daily K-line showing a large bearish candle breaking multiple supports, the short-term weak pattern for ETH remains unchanged. If ETH cannot maintain the daily low of $2885, the next target support may be at earlier low levels, necessitating strict stop-loss settings in operations; the short-term rebound space is limited, with significant resistance above, and $3050 is the primary pressure to watch. If it can stabilize above the $3000-$3050 range, a gradual long strategy can be attempted. In the current environment, it is recommended that investors be cautious and primarily reduce positions at highs, with strict stop-loss measures when buying at lows.
VI. Risk Warning
The current market volatility of ETH has significantly amplified, with a long shadow showing a strong selling momentum of over $90 within the day. Trading volume has shrunk sharply, and the market has significantly declined, making it easy to trigger liquidity risks in the event of sudden negative news. The price has fallen below multiple supports; if strong capital does not flow back in, there remains a risk of further sharp decline. Investors are advised to pay attention to the $2885 level and previous low defenses, strictly controlling positions to prevent significant losses from extreme market conditions. In summary, the short-term bearish pressure on ETH is significant; operations need to be highly cautious, strictly based on real K-line data for decision-making, and closely monitor risk prevention.