From the 1-hour candlestick chart of Ethereum (ETH), the current trend can be summarized as follows: the bulls' attempt to counterattack failed, facing short-term correction pressure.

Key Signal Breakdown

1. Moving Average System: Bullish Arrangement Encountered Resistance

   • Currently, EMA(5) is at 2095.59, EMA(10) is at 2097.02, the short-term moving averages have formed a death cross downwards, and the price (2101.62) has fallen below all short-term moving average supports.

   • The EMA(20) and EMA(40) above, around 2099-2100, form a dense resistance zone, indicating that the rebound momentum is weakening, with heavy selling pressure above.

2. MACD Indicator: Death Cross Confirmed, Bearish Momentum Strengthening

   • The MACD fast and slow lines have formed a death cross above the zero axis (DIF crossed below DEA), and the red bearish momentum bar (-4.02) is continuously expanding.

   • This is a very clear short-term sell signal, indicating that the adjustment cycle has just begun, and the downward momentum is still being released.

3. Candlestick Pattern: Evening Star Variation

   • After the high of 2141.42, there was a sharp decline, and the subsequent slight rebound failed to create a new high, followed by a long bearish candlestick that broke through the short-term platform. This constitutes a typical bearish engulfing or evening star pattern, indicating a high probability of further declines in the future market.

Trading Strategy Recommendations

• Trend Judgment: Bearish in the short term, sideways in the medium term.

• Operational Advice:

  • Short: The current price near 2101 or when rebounding to the 2105-2110 range meets resistance is an ideal short point.

  • Stop Loss: Set above 2120 (previous high resistance level).

  • Take Profit: The first target is 2080, the second target is 2060 (previous low).

• Long: Currently, it is not a good time to catch the bottom, wait for the MACD momentum bar to shrink or the price to stabilize above 2110 before considering.

In summary: Weak rebound, bearish counterattack, mainly go short in the short term.

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