From a four-hour timeframe, the previous MA5 and MA10 moving averages formed a death cross. After the price broke below the key support level of $2960, although the current RSI indicator has exited the extreme oversold zone and technical correction is needed, the rebound strength is clearly limited. The lower band of the Bollinger Bands at $2830 provides potential support, while the midline at $3020 acts as a short-term strong resistance. The overall market trend shows a downward oscillation and consolidation, and a further bottoming-out wave is highly likely to follow.