Evening of 12.7

From the perspective of the 1-hour candlestick chart and technical indicators, ETH is showing a weak and volatile downward trend in the short term. Recently, after surging to 3068, the price has continued to fall, with consecutive bearish candles and expanding real bodies, forming a "surge and pullback + consecutive declines" bearish pattern. It has now broken below the middle band of the Bollinger Bands and is between the middle and lower bands, indicating a clear downward trend. The overall Bollinger Bands are flattening and starting to turn downward, with the price retracing from the upper band to the middle-lower band area, suggesting the previous range has been broken and there is a higher probability of further downside.

The KDJ indicator shows all three lines below 50 in the weak zone, with the J line at a low point and not turning upward, and the K line crossing below the D line to form a death cross, reflecting short-term bearish dominance with no obvious rebound signals. The MACD histogram is negative and continues to extend, indicating bearish momentum is still being released and bulls have yet to mount an effective counterattack.

In the short term (1-4 hours), ETH is likely to continue its volatile downward movement: if it breaks below the lower Bollinger Band at 3026, it will further test the previous low support at 3023. If it can hold above the lower band support, a minor rebound may occur, but the rebound is likely to be capped by the middle band at 3041, and the short-term weak pattern is hard to reverse. It is recommended to go light on positions near the 3060-3090 area, with targets around 3010-2980.

The above is only a personal suggestion for reference only. Please refer to Haoyu Shipan’s arrangement for specifics! $ETH ‌#ETH