By observing the Bollinger Bands channel structure of ETH, we can identify key weakening signals: the Bollinger upper band is no longer sharply sloping upward, and the price action is gradually flattening out, indicating that the downward pressure above continues to strengthen.

Earlier, a short-term burst surged high and then quickly pulled back. After that, multiple attempts to attack the upper Bollinger Band all failed—there was no way to hold above the resistance line. In this latest upswing, the upper resistance range has already been fully tested.

The current price has deviated significantly from the channel moving average, creating a large divergence. From a technical perspective, there is a strong need for correction. The market’s focus will gradually shift downward, returning to the middle Bollinger Band to digest the gains. For the short term, the outlook remains bearish: a short entry opportunity appears when a rebound touches resistance.

Trading suggestion: Aggressive traders can short directly at the current price; conservative traders can short around 1800-1830, targeting 1750-1720. If it breaks below 1700 and 1640, hold the line at 1850.
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