12.5 Morning

From the ETH 1-hour chart and technical indicators, it is currently in a weak rebound phase after a decline, overall still leaning bearish, with limited rebound strength. The candlestick pattern shows a sharp drop followed by a weak recovery. After a previous high of 3227, it quickly dropped to a low of 3064, forming a long bearish candlestick. Subsequently, a small bullish and bearish candlestick combination was formed, typical of a weak recovery after a decline, without any reversal bullish candlestick patterns appearing. The resistance level is clearly under pressure, and during the rebound process, it failed to break through the Bollinger Band's middle track at 3162. The candlestick has repeatedly encountered resistance and retreated below the middle track, indicating insufficient bullish momentum for a rebound.

Currently, it is below the middle track of the Bollinger Band, with the upper track at 3216 being strong resistance, and the lower track at 3109 serving as short-term support. The overall channel is tilted downward, suggesting a bearish oscillation pattern. Although the KDJ indicator's J line has crossed above the neutral line at 50, the K and D lines remain in the mid-low range, and the J line is near the overbought zone, raising doubts about the sustainability of the rebound. The MACD is still in the negative territory, with green bars contracting but without a golden cross, indicating that bearish momentum has not fully dissipated. In terms of funds, there has been a net outflow of 4.34 billion, with significant capital outflow further weakening rebound momentum.

In the short term, it is highly likely to oscillate between the lower track of 3109 and the middle track of 3162. If it breaks below the 3109 support, it will test 3064 again or even lower levels; if it can stabilize at the middle track, it may have a slight rebound to around 3200. However, the overall downward trend has not fundamentally changed. In the short term, it is advised to consider light positions when rebounding to around 3190–3220, with targets looking towards the 3115–3070 range.

The above is merely personal advice for reference; please refer to the layout of Haoyu Shipan for specifics!!$ETH #eth ‌