Ethereum's current price is 1550. The market is everywhere calling for a bottom, but do not let these calls sway your mindset. After ETH repeatedly broke new lows, there was a short-term oversold rebound, but the large downward structure remains unchanged; the rebound is an opportunity for short positions to enter. Many people lose money by being reluctant to cut losses; after being trapped, they stubbornly hold on, turning small losses into deep losses. Short-term longs are only suitable for quick entries and exits to earn small profits; betting heavily on a reversal is equivalent to gambling on luck. Keep a calm mindset, avoid chasing rallies or panicking during dips, patiently wait for pressure levels to enter, and steadily ride the waves—this is more reliable than betting on a quick turnaround.

The daily K-line is overall in a standard downward channel, with the current price at 1544 breaking below all moving averages (EMA15, 30, 60, 120). All moving averages are arranged in a downward order from top to bottom, forming strong resistance above. Each rebound is suppressed and falls back by the moving averages. The Bollinger Bands on the daily chart are opening downward, with the price firmly running along the lower band, and the midline around 1813 becoming a key resistance level. The MACD indicator's DIF and DEA are below the zero line, with green bars continuing to expand, indicating ongoing downward momentum. RSI is near the oversold zone, suggesting a short-term technical correction is needed, but the overall daily downtrend remains unchanged; rebounds should be viewed as a pause in the downtrend.

The four-hour K-line shows even more obvious weakness, with the chart continuously descending in a stair-step pattern, constantly hitting new lows for the phase. All EMA lines are turning downward simultaneously, with short-term moving averages firmly suppressing the rebound. The current price at 1544 is far from all period EMAs. The four-hour Bollinger Bands are opening downward, with the price relying on the lower band to continue declining. The midline at 1778 is the first short-term resistance. The MACD lines are both below zero, with green bars expanding, indicating sufficient downward momentum. Short-term indicators are in deep oversold territory. The four-hour timeframe is unlikely to reverse strongly in the short term; even if a slight rebound occurs, it is only a technical correction after oversold conditions, with limited space for a rally and difficulty breaking through the midline resistance.

Short-term reference:

Upper side: 1620 to 1660 downward, stop-loss at 1690, target 1570 to 1500

Lower side: 1510 to 1470 upward, stop-loss at 1430, target 1570 to 1620

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