12.6

The recent ETH candlestick structure shows a low-level sideways consolidation with small bearish and bullish candles after bottoming out at 2978. There has been no strong bullish breakout, indicating that the bullish rebound is very weak and this is a weak consolidation after a decline, rather than a trend reversal. The current price is at 3037, down 4.16%, and is below the middle band of the Bollinger Bands. The upper band is trending downward, the lower band is flattening, and the short-term market is dominated by bears, only showing a weak stabilization after an oversold condition.

The KDJ indicator's J line is approaching the overbought zone. The K/D lines have formed a golden cross upward, but the J line is about to turn down, suggesting that the short-term rebound momentum is nearly exhausted, and there is pressure for a pullback. The MACD histogram is negative and close to the zero axis, with DIF and DEA lines almost overlapping, indicating a temporary stalemate between bulls and bears. The bearish trend has not fundamentally reversed, and the rebound lacks sustained support.

In the short-term 1-hour timeframe, the market shows characteristics of an oversold weak rebound dominated by bears. The rebound is clearly suppressed by the middle band of the Bollinger Bands, and the KDJ is about to enter the overbought zone, suggesting limited rebound potential. If the price cannot break through the resistance level effectively, it is highly likely to return to a downward trend. In the short term, it is recommended to buy lightly if the price pulls back to the 3010-2970 area, with a target around 3055-3080.

The above is for personal reference only. Please refer to Haoyu Shipan’s strategy for specifics. $ETH #eth