ETH Market Breakdown: Rebound Cut Short, Downtrend Unchanged!
Yesterday, the surge in the second coin briefly ignited short-term sentiment, but the price stopped at the strong resistance zone of 4560–4600, ultimately returning empty-handed. From the perspective of Chan Theory, this upward probe failed to effectively break through;
This means that the "upward wave" has declared failure, and the overall situation remains within a large-scale downtrend center, with no confirmation signal of a trend reversal appearing. In other words, yesterday's rally was merely a technical rebound within a bearish trend, rather than a genuine counterattack from the bulls!
On the structural level, since mid-August, the downward rhythm of the second coin has remained clear: the previous divergence around 4300 has released the first round of momentum; however, the subsequent rebound has been weak;
The price has consistently been unable to escape the gravitational pull of the center, and instead, it has faced obstacles again in the key resistance area, further consolidating the bear-dominated pattern. Looking at the current market, selling pressure remains active, and the sporadic counterattacks from buyers are insufficient to shift the overall trend, making the probability of continued weakness high!
Personal operation suggestion: Short above 4400, target 4320, 4200, 4160! $ETH
