1. Market OverviewThe current ETH market environment is characterized by extreme volatility and downward volume. According to the latest daily candlestick, ETH closed at $2,801.51, opened at $2,799.07, had a high of $2,804.31, and a low of $2,782.81, with a volume of 11,657.2. Combined with the K-line in the past 14 days, ETH continued to fall from a high of $3914.29, during which there were many times below the range and a large negative line, especially after 2025-12-01, the trading volume surged several times, for example, the closing volume of $2799.07 was as high as 761680, indicating that a large amount of funds were in and out, and the market sentiment was biased towards panic. The 48-hour hourly candlestick also showed a rapid decline in the short-term average price, with the lowest touching $2716.04 and a limited rebound, with the latest hourly candle closing at $2801.51. On the whole, ETH is in a state of strong pressure, wide range shock, and low hovering. In terms of market sentiment, the overall analyst view is generally cautious. A number of analysts clearly pointed out that "the recent collapse of the currency circle exceeded expectations, falling by 10% in one day", "the bear market is really coming", and suggested that "the high point is short, and the rebound can be tried, but it is mainly short". Only some of the views around $2,800 indicate a short-term rally or long opportunity, but the core recommendations are still biased towards wide ranges, shorting on highs, and strict take-profit and stop-loss. 2. The daily K-line of technical analysis shows that ETH has been declining step by step for more than ten consecutive trading days, with the highest point of $3914.29 (within 14 days) and the lowest point of $2711.01, with an amplitude of more than $2200. Although there was a reversal after the lowest drop of $2,716.04 in the past 5 days, the rebound was highly limited, and the current price still failed to stand back to the platform of $3,000, which means that the pressure above is heavy. The hourly candlestick further reveals the weak pattern of ETH. In the past 48 hours, the high was at $2,999.47, and then continued to decline, reaching a low of $2,716.04, followed by several small rebounds that failed to form a continuation. In the last 24 hours, most of them fluctuated between 2730~2840 US dollars, and the short-term long and short game was fierce, and there was no obvious breakthrough. The volume is amplified in line with the downward trend: the volume increases when the low point is down, and the volume can shrink rapidly when it rebounds, indicating that the passive buying is weak and the active selling pressure is dominant. Support level: strong support in the range of 2710~2730 US dollars (the low point of the past two days and the bottom of the previous shock), if it fails, it may test the lower range. Resistance level: The upper strong resistance is at 2850~2980 US dollars (the rebound high and the long-short dividing line), and the secondary resistance is in the range of 2999~3030 US dollars. If it can effectively break through $2,980, it is expected to regain $3,000 in the short term, but there is currently a lack of strength to support. 3. News and policy interpretation: Recent relevant market news mainly focuses on the continuous buying of large capital institutions and the frequent rebalancing of whale accounts. BitMine has increased its position sharply at a low level for two consecutive weeks, accumulating nearly 100,000 ETH, showing that some institutions still have confidence in the medium- and long-term potential. However, the news also pointed out that "ETH fell by 30% this month", and BTC, ETH, and SOL jointly drove the market as a whole to plummet, and the market panic was high. In addition, the latest monitoring also shows that suspected institutions or whale addresses have increased their holdings of 7,080 ETH again, and more than 10,000 ETH funds have flowed into HyperLiquid to open long orders. In terms of policy, according to the data, "no relevant policies have been released in the past 24 hours, in the past week and in the past month", the market lacks active promotion in terms of policies, and sentiment is more affected by funds and large operations. 4. The analyst's views are summarized as follows:1. Shuqin member group: "Recently, the currency circle has plummeted more than expected, falling by 10% in one day, but the success rate of this order is much higher, and it is still possible to rebound with double bottom support." Then some people are uncomfortable if they don't trade, then 2700-2800 is short on the left, and the rebound can not be done, all waiting to be short! 2. Sniper in the crypto circle: "ETH/USDT long buy: 2635-2590 TP1: 2665.73 TP2: 2720.13 TP3: 2850 TP4: 2955 Stop loss: 2554.96 Recommended leverage 10X-50X. "3. Sledgehammer contract trading: "ETH direction: short position: stop loss near 2750: take profit near 2780: 2720-2690-2660 Flexible entry, no need to step on points, aggressive orders, steady and do not do." 4. Yan Chi strategy member group: "ETH has no special perspective, look at the figure 22800-2770 near 30 points of the left support and 0.618 resonance, the left side is much shorter? The suggestion is to do it in one direction, whether to rebound or not, and wait for shorting! 2770-2800 left short long, look at the follow-up around 2980, and then turn short... It's all about price action. 5. Zero coin circle: "ETH long opportunities 1. Short-term focus on long opportunities around 2683.61. It can be seen that some analysts recognize that there is a short-term rebound opportunity in the 2710~2800 range, and individual suggestions 2635-2590 are the left side of the chip absorption area, and the target is set at 2850, 2955, etc., but the more mainstream opinions tend to respect the weak, the rebound is empty, and the main empty idea is obvious. Observing the trend of the K-line, some of the rebound highs are close to the long-short conversion price set by analysts. For example, the first line of 2770~2800 and 2750~2780 are all mentioned by many analysts to stop loss/short positions, which is highly consistent with the current actual closing point of 2801.51 US dollars, indicating that the market is more densely traded in this area. 5. Future trend prediction and operation suggestions According to the current K-line structure, ETH presents a bear market pattern of continuous weakening and weak rebound after a sharp fall. The strong support is located at $2710~$2730, and if it breaks, it will further test the $2600 range. The recent counter-pressure area above is at 2850~2980 US dollars, if it cannot break through 3000 US dollars, the weakness will continue, and the rebound space is limited. Operational suggestions:- Aggressive investors can refer to the range of 2750~2800 US dollars to capture the short-term rebound, but they must combine the hourly volume to take profit in time, and the target level can be set at 2850 and 2980 US dollars; - If it falls below $2,710, you should decisively stop your losses and wait for further stabilization signals; - Short traders can consider placing a short position near $2,980 on a high basis, with a stop loss above $3,050 and a pullback target of $2,720, $2,660 and $2,635 respectively; - Control the leverage ratio, reasonably open positions in batches, strictly discipline stop loss and take profit, and do not chase up and down. 6. Risk Warning: ETH is currently extremely volatile, with an amplitude of more than 40% in the past 14 days, and a single-day decline of more than 8%~10% many times. At present, the market is shrinking and consolidating at a low level, and it is very susceptible to violent fluctuations due to the impact of news and large capital changes. During the operation, it is important to pay attention to the gains and losses of the support of the $2710 line, if it falls below, it may trigger a new round of stampede. When the market fluctuates more than expected, coupled with abnormal capital flow and frequent large-amount transfers, investors should be clear about risk self-control, and it is not advisable to take heavy positions and blindly chase high, and it is recommended to set a stop-loss and take-profit strategy to prevent uncontrollable losses. To sum up, the short-term rebound space of ETH is limited, the weak pattern is dominant, and the market has no obvious stabilization signal. Investors should participate cautiously on the premise of confirming the effectiveness of the support area and cooperating with the amount of energy, first control the risk of positions, and pay close attention to market changes and large capital flows.