Detailed analysis of Ethereum trends and suggestions for sound trading strategies (January 22nd):

Ethereum is consolidating with a slightly weak bias on the 4-hour chart, fluctuating between 2950 and 3030. It quickly dropped from a high of 3057 to 2972 in the morning, then traded in a narrow range between 2990 and 3030. Currently, the price has fallen back to around 2987, and is in a recovery phase after the previous decline. Analyzing the 4-hour Ethereum price trend, the daily candlestick chart shows that the recent price drop from 3188.01 to 2987.7, forming consecutive bearish candles, has resulted in a slight rebound, showing an overall weak and volatile pattern. On the 4-hour chart, after the previous sharp drop, it found support around 2864.29 and rebounded, but there is significant selling pressure in the 3030-3050 area above, and it is currently in a high-level pullback phase. The MACD 4-hour chart shows both the DIF and DEA values are negative, and the MACD histogram has turned from green to red, indicating that bearish forces still dominate in the short term. The RSI 14 is hovering around 37, not yet in oversold territory but close to low levels, indicating weak market sentiment. The current price is trading below the EMA7 (2997.4), and the EMA30 (3095.7) and EMA120 (3143.6) are still diverging downwards, indicating a continued bearish trend. Key support levels: First support at $2930-$2960, strong support at $2860-$2880 (previous important low area). Key resistance levels: First resistance at $3050-$3070, strong resistance at $3100-$3150 (previous rebound high). Ethereum conservative recommendation (January 22nd): Short positions are recommended around $2990-$3010, with target prices of $2940-$2900-$2880, and a further target around the previous low of $2770! This strategy is time-sensitive; implementation will primarily rely on free guidance.