On the 1-hour Ethereum chart, after a sharp drop, the price is now moving sideways slightly above its lows as it consolidates. It is hugging the lower Bollinger Band, and the broader bearish structure remains unchanged, with selling pressure still strong. MACD remains in a death cross, with DIF staying below DEA and bearish volume bars continuing to expand. KDJ has turned slightly upward from oversold levels, indicating a short-term technical recovery after the sharp decline—not a bullish reversal signal. The previous rebound was a classic bear-flag continuation pattern: after the weak bounce, bears regained momentum and drove the price to a new low. The slight stabilization near the current lows is merely a brief pause in the main downtrend. This weak short-term rebound is an indicator-driven correction, so maintain a bearish bias intraday.
Stay short at 2375, target 2335, stop 30 points away $ETH