The pancake has created a new low again, the weekly trend has turned bearish, and there was no reversal yesterday. The 4-hour level has formed a downward channel, with both highs and lows declining, and trading volume has shown a significant increase. The SKDJ has turned from gold to a death cross. Next, we wait for a rebound to enter a short position.
Upper resistance levels:
1. 116884.7
2. 118369.5 (If it breaks and holds above, the bearish trend will be invalidated)
Lower support levels:
1. 114655.6
2. 111961.4
The weekly trend of Ethereum has not clearly reversed to bearish but carries hidden risks. Yesterday's last round of upward movement for long positions also successfully gained 100 points before exiting. The 4-hour level has not surpassed the previous high, forming a downward channel, and there has been a significant increase in trading volume. The SKDJ has turned from gold to a death cross, and the bearish trend may strike again. We wait for a rebound to enter a short position.
Upper resistance:
1. 4460.51
2. 4534.85 (If it breaks and holds above, the bearish trend will be invalidated)
Lower support:
1. 4283.01
2. 4146.39