$ETH A short-term rebound may be on the horizon, but the long-term bearish signals are already very clear.

The current price is operating below both the EMA24 and EMA52 moving averages, and EMA24 has crossed below EMA52 to form a death cross, which is a typical signal of weakening in the medium term. However, although the KDJ indicator has shown a death cross, the J value has dropped to the extremely oversold area, indicating that the probability of a rebound after a short-term decline is increasing.

A large number of trapped positions have accumulated around 42965, which will become a key resistance level for the short-term rebound. Recently, trading volume has continued to shrink, indicating that the market's willingness to participate is not strong, and most people are choosing to wait and see. However, the 4-hour candlestick chart has shown a doji star, combined with a bottom division structure, suggesting that a local bottom may be forming. Additionally, the RSI indicator is showing a double bottom pattern, opening the window for a short-term rebound.

If ETH can break through the strong resistance level of 4295 with increased volume, it may trigger a rapid rise. However, it must be clearly understood that the medium- to long-term trend is still suppressed by the death cross signal, and after the rebound, one must remain vigilant against the risk of another downward move.

Currently, market sentiment is very conflicted, fearing both missing the rebound and the trend reversal. This stalemate may continue until the resistance level is effectively broken or recent lows are breached.

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