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Ethereum's recent rebound is mainly a correction of the trend; a true bullish reversal signal has not yet appeared.
From the four-hour chart, the price repeatedly attempts to push higher but gets pushed back down, with the downward channel and moving averages firmly blocking the way. The highs are gradually decreasing, the candlestick bodies are small, and long upper shadows appear frequently—this is a typical sign of selling pressure from above, indicating that the bulls are not very committed. The rebound? More of a passive technical correction rather than a trend reversal.
The one-hour chart shows an even clearer picture. The price oscillates narrowly between the middle and lower bands, with small bullish and bearish candles appearing alternately, gradually exhausting the bullish momentum. Although the lows haven't been broken decisively, the rebound strength is clearly insufficient. Short-term bulls lack coherence; structurally, the market still leans towards weakness and sideways movement.
Overall, Ethereum is currently in a vague state. Instead of betting on a trend reversal, it's better to operate within the range and focus on rhythm and timing.
**Trading reference**: Consider short positions around 2980, with an initial target of 2900. If the support at 2860 is broken, continue to watch for further downside.
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Trying short at 2980? I’d still wait, afraid of getting trapped
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All the bulls have been exhausted, this rebound is just a fleeting moment
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Range trading sounds simple, but in reality, you still need to keep the rhythm right
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The frequent upper shadows indicate that institutions are indeed distributing
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Feels like there will be another wave of volatility, don’t rush to catch the bottom
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A fuzzy state means no clear direction, and that’s when you’re most likely to get hammered
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2860 is the bottom? I’m skeptical
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Does anyone dare to go all-in on a try short at 2980? I don’t dare
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The short-term is so weak, better to hold steady and wait for a stronger move
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Already said there’s no sign of a reversal, why gamble on a transition?
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Range trading sounds easy, but in practice, it’s just repeatedly getting harvested
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Small ups and downs take turns, just draining retail investors’ patience
The bears are holding firm at 2980; as long as it can't break, it'll just continue to oscillate. I bet this time will be no different, repeatedly slapping the face.
This trend is definitely just a trap to catch the unsuspecting and offload positions, there's nothing more to say.
Sense of rhythm? Laughable—it's just a scythe harvesting machine.
Can 2900 really break? I’m skeptical. Looks like we need to test the lower levels again.
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It's again oscillation and range trading. I think we should wait until a breakout before talking.
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The bullish momentum is exhausted; I really don't want to chase high at this position.
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Shorting at 2980? I still want to see if it can drop to 2860 before participating.
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Really, this kind of ambiguous state is the most annoying; better to wait and see.
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Frequent upper shadows indicate what? Someone is selling at the top.
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I'm tired of the narrow fluctuations on the hourly chart; just waiting for the breakout moment.
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Instead of guessing trend reversals, it's better to honestly trade within the range.
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I'm a bit skeptical whether this rebound can hold until 2980.
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With the moving averages so heavy, do you still want to rebound? Wishful thinking.
The bears are hitting hard from above, while the bulls seem to have no energy left, with poor continuity.
I agree with shorting at 2980, but sticking to a range-bound strategy is the way to go. Don't gamble on trend reversals—they're all money-losing moves.
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It's another frustrating oscillation, and the bullish momentum is almost exhausted.
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I'm itching to short at 2980, just waiting for the signal. This rebound can't fool anyone.
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I understand range trading, but I feel I should keep observing for now. No clear breakout signals have appeared.
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The highs are gradually decreasing; who can't see that? It's a classic weak consolidation.
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Not betting on the trend is the right move. During this period, just stick to the 2980 to 2860 range and trade back and forth.
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Basically, it's just trying to short at 2980, that's all there is to it.
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I agree with the frequent appearance of upper shadows; there's indeed little bullish intent.
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I'm tired of range trading. When can we see a real breakout signal?
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2900 is really tough; it feels very hard to break.
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The analogy of the bulls being exhausted is quite vivid. Right now, there's really no momentum.
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Narrow-range oscillation is the most annoying; not only do you not make money, but it's also a headache.
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This rebound is just a smokescreen; it could crash back at any time.
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Looking at the downward channel, you can tell that the bears are still in control.
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The correction trend is just a prelude to chopping up the latecomers; stay alert.
Betting on trend reversals is ridiculous; I prefer to watch the range patiently.
Trying short at 2980 is indeed an option, but this wave doesn't seem to have much momentum.
Is everyone still in there? Come out and get some fresh air.
It's going to drain energy again; the one-hour chart looks really weak.
Dumping the market aggressively, this rebound just can't stabilize
Upper shadows everywhere, it's a classic trap
Narrow fluctuations are so annoying, let's wait for a breakout signal
Feeling confident to short at 2980, might as well give it a try
The bulls are really lacking strength this round, it's hard to watch
Repeated suppression, really hard to turn strong
Don't dare to chase this wave, can't get the rhythm right
Just fix it and be done, don't talk about trend reversal anymore