Candlestick Patterns: Recently, on the 1-hour timeframe, there has been a continuous decline with bearish candles, and the latest candle rebounded but did not break through the previous high of 2267, forming a downward channel. On the daily chart, after testing 2319 with a long upper shadow on May 14, there was a rapid pullback, indicating heavy selling pressure above.

The key integer level of 2300 has formed obvious resistance (failed multiple tests on May 15), with short-term support around 2250. The monthly chart price has been oscillating around 2255, lacking a decisive breakout.
Technical Indicators: MACD: On the 1-hour chart, DIF crossed below DEA to form a death cross, with the histogram expanding to -10.2, indicating increasing bearish momentum. On the daily chart, MACD formed a death cross at a high level, with both the fast and slow lines falling below zero, signaling a weakening medium-term trend.
RSI: The 1-hour RSI(14) rebounded from the oversold area of 35.87 to 41.54, still in a weak zone. The daily RSI(14) at 45.56 remains neutral with a slight bearish bias.
EMA: On the 1-hour chart, EMA7(2266) crossed below EMA30(2276), forming a bearish alignment, with the price being suppressed by all EMAs. The daily EMA120(2387) deviates from the current price by 5.8%, indicating a need for mean reversion.
Volume: On May 15 at 13:00, volume surged to 25,298 with a $17 decline, confirming the outflow of major funds. At 22:00, volume surged to 22,675 with a $37 spike but failed to continue, representing a typical trap to induce buying.
The daily volume has decreased over the past three days, with 256,681 on May 14 compared to 252,981 on May 12, showing signs of a volume contraction rebound, with insufficient upward momentum.
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