On the one-hour Ethereum chart, after meeting resistance during the rebound, the price once again fell sharply on increased volume, breaking straight below the lower Bollinger Band. Funds shifted to large net outflows, with concentrated selling pressure from bears quickly overwhelming short-term bulls. KDJ fell rapidly into deeply oversold territory, with the J value nearing 0. The bullish MACD histogram disappeared, bearish momentum reemerged, and DIF crossed below DEA, forming a death cross and confirming a short-term bearish signal. This move is still a corrective rebound following a sharp decline. The rebound lacked strength and failed to break through overhead resistance, leaving bulls unable to sustain their advance and allowing bears to regain control. The Bollinger Bands are opening downward.
Although KDJ is deeply oversold, a small, weak short-term rebound is possible. However, its upside is limited and it is most likely to be only a brief pause in the decline, after which the price will continue downward to test lower support.
Reference: Short at 2473 on a rebound, target 2433, stop 30 points away $ETH
Although KDJ is deeply oversold, a small, weak short-term rebound is possible. However, its upside is limited and it is most likely to be only a brief pause in the decline, after which the price will continue downward to test lower support.
Reference: Short at 2473 on a rebound, target 2433, stop 30 points away $ETH