Ethereum rebounded to around 4240 in the morning but faced pressure and fell back. The rebound strength yesterday and the morning's rise have already reached the upper resistance level near 4250. Currently, it has hit the resistance level and completed a round of pressure touch and retreat. Subsequently, at eight o'clock this morning, it has been fluctuating downward. It can be seen that the selling pressure from above is still very strong. From the daily technical indicators, the KDJ indicator is in an upward phase, but the upward momentum has clearly weakened. Although the MACD indicator shows an overall sign of bearish contraction, the DIF and DEA indicators have turned down together and continue to weaken. The BOLL indicator's entire band is in the lower band area and is currently opening downward. Although the MA5 moving average still maintains a fluctuating upward trend, the MA10 and MA30 moving averages are still under downward pressure, and today the Ethereum price still shows a slight gap with the MA5 moving average. Therefore, in the short term, Ethereum is likely to mainly fluctuate downward.

From the 4-hour technical indicators, the KDJ indicator continues to weaken in the short term. Although the MACD indicator has shown a slight golden cross upward, the entire BOLL indicator still leans towards fluctuating downward. Currently, although the coin price is running near the middle band, the selling pressure from the BOLL indicator is still quite strong. In the short term, although the MA5 and MA10 moving averages are fluctuating upward, the lower MA30 moving average continues to exert downward pressure. From both the daily and short-term perspectives, I personally believe that today the coin price is likely to mainly fluctuate downward. Finally, I expect that Ethereum's price today will likely mainly fluctuate downward, with short-term bottom support reference around 4100.

The above is my personal evening market analysis and operational thoughts, for your reference only.

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