#美联储回购协议计划 Ethereum repeatedly tests the edge of life and death; can the market stabilize?

Currently, Ethereum is stuck bouncing between $2900 and $3000. Recently, it surged toward $2990 trying to break resistance, but failed to hold, and then dropped back down—this indicates that there is real selling pressure at this price level.

From the overall market perspective, ETFs are indeed continuously draining liquidity, but at the same time, profit-taking is also rapidly increasing, causing both bulls and bears to be locked in a stalemate. If Bitcoin continues to be suppressed below $87,000, it will inevitably drag down the entire market's risk sentiment, and Ethereum won't be immune.

The 4-hour chart shows a consolidation pattern, with support at $2890 and resistance still at the integer level of $3000. Currently, trading volume is not showing any signs of picking up, making short-term directional moves unlikely.

Additionally, the network upgrade, in the long run, is beneficial for the ecosystem, but in the short term, it reduces transaction costs, which may make high-frequency arbitrageurs more active, increasing volatility.

**The trading logic is simple**: the key is whether $2890 can hold. If this level remains intact, there’s still a chance to attempt a move above $3000 later; if it breaks directly, be prepared for a deeper correction. Since there’s no confirmed volume breakout, don’t rush to act—patience and careful observation are always the top priorities.