#美联储回购协议计划 Ethereum oscillates to test key support: Can 2890 hold to determine the future trend

Currently, Ethereum is repeatedly tugging within the $2900-$3000 range. The price once approached $2990, but selling pressure appeared, and it failed to break through effectively, being pushed back down. The selling pressure at this level is very evident.

From a macro perspective, Ethereum spot ETF is still accumulating positions, but the market has also shown clear signs of profit-taking. Bulls and bears are locked in a standoff here. Meanwhile, Bitcoin has been struggling below the $87,000 mark, and this ongoing pressure continues to weigh down the overall market's risk appetite.

On the technical side, the 4-hour cycle is still consolidating. The strong support below is around $2890, and to break above, it needs to surpass the round number of $3000. Trading volume has not increased, making it difficult to see a trend-driven move in the short term.

From an ecosystem perspective, network upgrades are a long-term positive, but they reduce transaction costs, which could stimulate high-frequency speculation and increase market volatility.

In terms of trading strategy, it’s best to remain cautious for now. The key is to watch whether the $2890 support can hold. If this support remains firm, there is potential for an upward test of resistance; once volume increases and it breaks down, a correction could open up. Until a clear volume-driven breakout occurs, caution is advised. The real opportunity will come later, so avoid being caught up in the oscillating market.