Ethereum pulls back from the intraday high of 1714, rebounds around 1690 but faces resistance without breaking through, then falls below the Bollinger middle band support at 1669, initiating a round of accelerated decline, with the lowest touching around 1636. The current price is around 1645, representing a typical bearish structure after a rebound fails and breaks down. The Bollinger Bands are generally opening downward, with the price falling from the upper band, breaking below the middle band and directly extending below the lower band, indicating that the bearish force continues to dominate the market, with buying momentum unable to support, and downward energy still being released.

The upper resistance levels are the Bollinger middle band at 1669 and the previous decline platform near 1680, which are strong resistance points during the rebound. If the price cannot re-establish above the middle band, the bearish trend will continue. The support level is around the intraday low of 1636, which is the key support for the current decline. If this support is broken, a new round of downward space will open.

Currently, Ethereum is in a low-range bearish pattern after a unilateral decline. The price has broken below the lower Bollinger band, the KDJ indicator continues downward, and bearish momentum dominates the market. The signal that the rebound is facing resistance and cannot break through is clear, and the short-term bearish trend is still ongoing. The resistance near the Bollinger middle band is relatively strong; if the price cannot break through, it is likely to continue weak oscillation or further decline.

Around 1660-1670, target 1600, and if broken, look toward 1570.