$ETH ETH From the 1-hour candlestick chart, the price first experienced a decline, reaching a low of 4311 before rebounding and correcting.

During the decline phase, long bearish candles accompanied by increased volume indicated the dominance of bearish forces; during the rebound, the candlestick pattern showed a gradual upward trend, but the volume did not sustain significant expansion, raising doubts about bullish momentum. In terms of moving averages, although MA(5) and MA(10) have shown a short-term turning point, they are still overall suppressed by the previous decline, with the price situated in a tangled area of moving averages, resulting in intense bullish and bearish competition.

In the short term, attention needs to be paid to the resistance at the high point of 4599. If the rebound can effectively break through and stabilize, it is expected to continue the rebound trend; if it faces pressure and falls back, the support at the low point of 4311 needs to be closely monitored, and a breakdown could lead to a return to a weak downward rhythm.