I took a look at the latest ETH market行情, and this wave of sharp decline has indeed scared many people. But if you carefully examine the 1-hour chart, you'll notice some interesting signals.

Starting with the technical analysis. The Bollinger Bands have already broken below the lower band (around 3105), and are now oscillating around 3110. During the sharp drop from 3308 to 3086, trading volume significantly declined—the MACD green bars are almost disappearing, and the DIF line is starting to turn upward. This oversold condition combined with exhausted volume usually indicates a potential short-term rebound.

Looking at the on-chain data, the details are quite interesting. In the past 24 hours, exchange ETH holdings decreased by 12,000 tokens, indicating that large holders are withdrawing coins, which doesn't necessarily mean selling pressure. More direct evidence is that whale addresses have swept up 8,000 ETH in the last 3 hours, with an average cost basis around 3100—these whales are accumulating at low levels. Gas fees remain stable at 15 gwei, and there’s no panic sentiment on-chain; the real panic is among retail investors scared by the candlestick patterns.

The fundamentals are also solid. The Fed's dovish expectations continue to rise, and the US dollar index is likely to weaken today. ETH staking continues to increase, and after the Shanghai upgrade, the staking rate has risen by another 0.5%. There’s no sign of long-term capital withdrawal. This decline is essentially a manipulation by the big players using a slight market correction to "shake out" weak-handed traders.

From a trading perspective, the buying opportunity is right in front of us. In the short term, the first resistance for a rebound on the 1-hour chart is the middle Bollinger band at 3147. If broken, the next target is 3200. This rebound could offer at least 2% upside, so there's no need to wait for a full rebound to chase; early positions tend to be the most profitable.