$ETH
Bitcoin, Solana, and all these coins are bearish.
Bitcoin and Solana, based on naked candlestick analysis, have merely tested the resistance at the 200-day EMA on the four-hour chart. The testing is valid, but they are still in a suppressed bearish trend.
What about Ethereum? Ethereum is completely driven up by institutions and a bunch of fools boosting the price, breaking through the 3180 resistance and stabilizing above the 200-day EMA on the four-hour chart. However, it is still being suppressed by the 200-day EMA on the daily chart around 3450, so the current situation is that Bitcoin and Solana are under resistance on the four-hour level, continuing the bearish trend.
Ethereum is being suppressed on the daily level, and the four-hour chart has shown a bearish signal, so the overall market is still bearish, and we should continue to short unless Ethereum breaks the 3446 level convincingly.
The following chart shows the MACD on the four-hour and daily charts confirming the bearish outlook, with the daily being suppressed and the four-hour showing bearish naked candlestick. If the price drops below 3185, then Ethereum can add to the short position.
If Ethereum breaks above 3180 and closes with a solid bearish candlestick, there was a long position taken at 3250, but it couldn't take profit at 3450. Ethereum is currently just a speculative coin, Bitcoin is too expensive and lacks liquidity, so people are coming to Ethereum to exploit retail investors.
