12.5 Morning

From the ETH 1-hour level trend and technical indicators, it is currently in a weak rebound phase after a decline, overall still bearish, with limited rebound strength. The candlestick pattern shows a sharp drop + weak recovery, after a prior high of 3227 quickly dropping to a low of 3064, forming a long red candlestick. Subsequently, a combination of small bullish and bearish candlesticks was formed, which is a typical weak recovery after a decline, and no bullish reversal candlestick pattern has appeared. The pressure level is clearly under pressure, and during the rebound process, it failed to break through the Bollinger Bands middle track at 3162. The candlestick has encountered resistance below the middle track multiple times, indicating insufficient momentum for the bulls' counterattack.

Currently below the middle track of the Bollinger Bands, the upper track at 3216 is strong resistance, and the lower track at 3109 is short-term support, with the overall channel sloping downwards, indicating a bearish oscillation pattern. Although the KDJ indicator's J line has crossed above the 50 neutral line, the K and D lines are still in the mid-low range, and the J line is close to the overbought zone, raising doubts about the continuation of the rebound. The MACD is still in the negative area; although the green bars have decreased in volume, a golden cross has not yet appeared, and bearish momentum has not completely dissipated. In terms of funds, there has been a net outflow of 434 million, with significant capital outflow further weakening the rebound momentum.

In the short term, it is highly likely to oscillate and consolidate in the range of 3109 Bollinger lower track - 3162 Bollinger middle track. 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 slightly rebound to around 3200. However, the overall downward trend has not fundamentally changed. In the short term, it is recommended to consider light positions near the 3190--3220 area during the rebound, targeting around 3115--3070.

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