Ethereum Black Friday critical window! ETH volume contraction breakout imminent, bulls and bears battle at the 3000 key level

The market effects of Black Friday are still unfolding. Ethereum (ETH) is currently trading around the $3.11K mark, with a 24-hour price change of +0.18%, showing a typical convergence pattern. The recent prolonged sideways movement has thoroughly drained the liquidity in the market. The more this “air” is compressed, the more powerful the subsequent breakout will be!

In-Depth Analysis of Price Patterns

Ethereum is currently at a critical point within a triangle convergence, with the core range of 2980-3010 becoming a battleground for bulls and bears. If the price holds firm within this range without breaking, it indicates that the main funds are controlling the market strongly. Once the price breaks through this “psychological barrier,” increased volume could push it directly toward 3030-3050, and possibly even surge into the 3100 extreme liquidation zone.

Conversely, if the support below is broken, a bearish decline will unfold, with 2950-2920 becoming a key support line. In extreme scenarios, it could fall near 2850. But rest assured, 2920-2880 is a true “iron bottom,” representing an ideal position for profit-taking and strategic positioning.

Entry Opportunities for Bullish Players

For bullish traders, the current key is to “wait and see.” Look for signals of volume decline after a sharp drop, or confirmation of multiple failed attempts to bottom out with long lower shadows.

Best Entry Zone: 2780-2850 — the golden opportunity area
Secondary Zone: 2850-2900
Risk Management: Place stop-loss orders at the lows of the support levels, allowing enough room for maneuver, then hold long-term, waiting for a strong rebound on Black Friday.

Bearish Trading Strategy

Bearish traders should wait for signs of volume weakening during upward pushes or long upper shadows, along with multiple failed attempts to break higher. Once these patterns appear, consider entering in the opposite direction.

Best Short Entry Zone: 3080-3130 (high range)
Secondary Zone: 3030-3050
Profit Management: Use a phased take-profit and trailing stop-loss strategy, maintaining a core position at strong support levels to hedge risks.

Core Trading Points

This wave of market movement will either break out with a big volatility now or continue to grind sideways. Regardless of the scenario, the key is to not rush into action before clear breakout patterns and volume confirmations appear.

Wait for volume and candlestick patterns to give clear directional signals, strictly follow stop-loss plans, and seize opportunities with high risk-reward ratios. Risk control always takes precedence over profit. The true winners are often those who understand the importance of “discipline.” The story of Black Friday is still ongoing—stay vigilant, and the final victory belongs to patient traders!