Ethereum's current price is 1663. The current trend of Ethereum is set here; contrarian bottom-fishing is going against the overall market trend. Don't think it's cheap just because it has fallen a lot; the saying "no bottom in a decline" always applies. Small rebounds can be tempting, but stick to your trading plan, act at the designated levels, and be patient if not there yet. Don't hold on stubbornly if you lose, and don't greedily take profits when you gain; accumulating small, stable profits is much more reliable than gambling on big wins.

The daily K-line shows a weak sideways and downward shadow pattern. All EMA lines are arranged downward, with the short-term 15 EMA at 1763 and the 30 EMA at 1899 pressing down on the price. Key resistance above is at 2242, the 78.6% retracement of the downtrend. The MACD lines are deeply below the zero axis, with the downward momentum bars continuously outputting, indicating that the downward energy remains sufficient. The Bollinger Bands are opening sharply downward, with the price running along the lower band, which is at 1468. The previous low at 1503 is a strong psychological support level. Several small rebounds previously failed to break above the short-term moving averages, indicating no real force for a northward reversal. The daily trend remains firmly downward, and each rebound is a good opportunity to lay out for further southward movement.

The 4-hour K-line shows oversold conditions with narrow-range oscillation and repair, with only a 0.28% increase, indicating very weak rebound strength. The medium- and long-term EMAs are all trending downward. The 23.6% Fibonacci level at 1730 is the first major hurdle for a northward move; if it cannot break through, the rebound space will be immediately limited. The MACD shows a weak golden cross, with small red bars, just a technical correction after the decline, not a reversal signal. The Bollinger Bands are narrowing, with the upper and lower bands between 1615 and 1686, and the price is trading below the middle band, under pressure. The 4-hour sideways consolidation is consuming downward momentum, but there is no bottoming or stabilization structure. Once the correction cycle completes, the downward force will be released again, making a further decline along the daily trend highly probable.

Short-term reference:

- Resistance above at 1720 to 1750 for downward movement, stop-loss at 1800, target at 1650 to 1550
- Support below at 1600 to 1550 for upward movement, stop-loss at 1500, target at 1650 to 1720

Specific operations should be based on real-time market data. For more information, contact the author. The article may have publishing delays; use for reference $ETH at your own risk.

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