ETH has experienced a decline from 3030 to 2886 on the 1H timeframe and is currently in a sideways correction zone after the decline.

The current price is operating within the previous rebound central zone of 2930–2950, which is a dense area of bullish and bearish battles.
Structurally, it is judged as:
The downtrend has not reversed, but the bearish momentum is weakening, entering a wave correction zone.
MACD (1H)
The bearish histogram continues to shorten, DIFF converges towards DEA, indicating that bearish momentum is significantly weakening, but a valid golden cross has not yet formed, suggesting the market is in a weak rebound + non-reversal stage.
BOLL (1H)
Price oscillates around the middle band, with the upper band resistance clearly at 2980–3000, and the lower band support moving up to around 2900, forming a box range.
Rebound from the central support, indicators do not break the level, aiming for a recovery and rebound. Entry: 2932
Rebound to the upper resistance zone, momentum exhausts, follow the structure to short, Entry: 2978
Currently, ETH's market sentiment is in a “bearish dominance but has entered profit-taking stage.”
There is significant support below, and insufficient willingness to chase the rally above, so in the short term, it is more inclined towards range oscillation + wave rotation rather than a trend in one direction.