After the Ethereum price surged to around the 1842.8 peak, it quickly reversed and headed downward. The upper band of the Bollinger Bands turned downward in sync, the Bollinger channel opening shifted from narrowing to expanding downward, bearish momentum concentrated and released, and the hourly-cycle trend has completely weakened.

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The price kept falling, breaking below the Bollinger upper band and the middle band; it briefly pierced below the lower band, then bounced slightly back toward the middle-band line. This is a technical oversold rebound after a rapid selloff. Overall, the downward channel is already open.
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Short-term support: around 1753 on the Bollinger lower band, a strong catch area for the low of the recent sharp drop.
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Short-term resistance: around 1778 on the Bollinger middle band, the first resistance zone on any rebound.
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Major resistance: around 1800 on the Bollinger upper band, an important suppression area on rebounds.

Short-term outlook: The market is currently under pressure at the middle-band level. If it stalls around 1778, you can look for further pullback in line with the downtrend. First target 1753; if it breaks, look down to 1720.

If the price holds the middle band and breaks upward, the repair space could extend toward around 1800. #ETH