From the hourly level perspective of $ETH , a significant resistance area has gradually formed above in recent times. The gains from the previous bullish candlesticks are being gradually eroded by subsequent corrective movements, indicating a diminishing bullish strength. The market seems to be brewing a trend shift, and a bearish-dominated downward trend may commence in the short term.

What is even more noteworthy is that near the upper resistance level, a Doji candlestick pattern has formed. This pattern typically signifies intense competition between bulls and bears at this position, where the bulls have failed to maintain their upward momentum, and the bearish strength is becoming apparent, adding corroborating signals for a possible trend reversal in the future, and further reinforcing short-term downward expectations.