Ethereum as a whole remains highly correlated with Bitcoin. After a sharp push up followed by a pullback, it has entered a choppy downward trend. Since the early hours today, starting from the peak around 2527, price has been rolling over; during the consolidation and probing lower, it has gradually broken below short-term support, with the low probing down to the 2445 area. The current quote is hovering around 2447, and the entire move has shown a steady “sell-the-rip” type of following decline. The intraday linkage between instruments is clearly evident.
On the daily timeframe, the downward channel continues to expand in an orderly manner. After the market went through a short-term spike that lured momentum, completed distribution and top formation with high-level positioning, it has successfully switched to a steady pattern of consolidation and downward movement. Bearish momentum is released gradually, causing short-cycle moving averages to turn downward and form a bearish alignment that exerts pressure. The MACD fast and slow lines have formed a dead cross below and diverge downward after being above the 0 line. The green momentum histogram continues to increase. The TRIX trend indicator simultaneously confirms the dead cross and downward move. This pattern indicates that the market trend has clearly returned to being dominated by bears, and this downtrend is characterized by strong continuation and a structurally solid foundation.
On the four-hour timeframe, the weak bearish tone persists. Price continues to probe lower steadily while clinging to the lower boundary of the channel, showing technical characteristics of one-way weak selling. This further reinforces the groundwork for the daily timeframe bearish trend. Currently, the market’s rhythm suggests that bearish forces are still continuously building. Any short-term rebounds that occur are not signals of a trend reversal, but rather typical “repair and lure” actions intended to accumulate energy for the next leg lower. From the volume-price structure, during the rebound phase the trading volume keeps shrinking, and the buy-side follow-through strength is insufficient. The market structure remains fundamentally unchanged from a bearish-dominant posture. Today’s strategy still focuses on placing short positions on rebounds as the core idea.
Specific trading suggestion: Watch how price reacts to overhead resistance in the 2480–2515 range and the 2605–2640 range. If resistance holds and does not break, you may consider going short. Target a move of 30–450 points lower.
On the daily timeframe, the downward channel continues to expand in an orderly manner. After the market went through a short-term spike that lured momentum, completed distribution and top formation with high-level positioning, it has successfully switched to a steady pattern of consolidation and downward movement. Bearish momentum is released gradually, causing short-cycle moving averages to turn downward and form a bearish alignment that exerts pressure. The MACD fast and slow lines have formed a dead cross below and diverge downward after being above the 0 line. The green momentum histogram continues to increase. The TRIX trend indicator simultaneously confirms the dead cross and downward move. This pattern indicates that the market trend has clearly returned to being dominated by bears, and this downtrend is characterized by strong continuation and a structurally solid foundation.
On the four-hour timeframe, the weak bearish tone persists. Price continues to probe lower steadily while clinging to the lower boundary of the channel, showing technical characteristics of one-way weak selling. This further reinforces the groundwork for the daily timeframe bearish trend. Currently, the market’s rhythm suggests that bearish forces are still continuously building. Any short-term rebounds that occur are not signals of a trend reversal, but rather typical “repair and lure” actions intended to accumulate energy for the next leg lower. From the volume-price structure, during the rebound phase the trading volume keeps shrinking, and the buy-side follow-through strength is insufficient. The market structure remains fundamentally unchanged from a bearish-dominant posture. Today’s strategy still focuses on placing short positions on rebounds as the core idea.
Specific trading suggestion: Watch how price reacts to overhead resistance in the 2480–2515 range and the 2605–2640 range. If resistance holds and does not break, you may consider going short. Target a move of 30–450 points lower.
