Yesterday, Ethereum experienced a short-term rebound, and the bulls began to attempt stabilization and a counterattack.


But from the one-hour timeframe, multiple attempts above 1700 have not stabilized, and this morning it was quickly pressured near 1714 and retreated.
From the four-hour cycle structure, the larger downward channel has not yet been broken, and the overall bearish trend has not been fully reversed.
Additionally, from the short-term rebound structure, there is a certain resistance zone above 1700.
If the price cannot stabilize above this level within the day, this round of rebound will be considered over.
Ethereum reference: short 1672, target 1592, stop 40 points.
ETH-0.88%
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