In the market on December 26th, Ethereum faces quite obvious resistance above. The market sentiment has been somewhat subdued these past two days, and our strategy remains focused on high short positions and low long positions.

From the daily chart, after two bearish candles, the price rebounded with two bullish candles. However, there is a problem with this rebound—the price has been firmly held down by the middle band of the Bollinger Bands, lingering in the weak zone between the middle and lower bands, unable to break out.

On the 4-hour chart, although after two consecutive bearish candles it turned bullish and broke below the middle band, it looks a bit promising. But the three Bollinger Bands are continuously contracting and moving closer to the middle band, indicating that the bullish attack momentum is weakening and the energy is somewhat exhausted.

The 1-hour cycle provides a clearer signal. The MACD indicator is about to shift from a golden cross to a death cross, fully reflecting that the current bullish enthusiasm is cooling down. The market sentiment's low level is evident.

Based on these technical indicators, we can consider short positions around the rebound levels of 2990 and 3030, targeting 2930 and 2880. The overall approach remains unchanged.