【Chande Theory Analysis | ETH Downward Center Confirmation, Weak Rebound】

As mentioned yesterday, ETH is still in the process of constructing a downward center. As of today, the center is basically complete, but the trend is weaker than expected: the last drop has not finished yet, and the rebound strength is obviously insufficient, maintaining an overall bearish rhythm.

From the market structure perspective, the rebound highs in the 4480 and 4540 range are relatively clear short positions. According to the rhythm of Chande Theory, these are sell points in the center's oscillation; the price struggle is weak, making it easy for the bears to continue to explore downwards.

On the downside targets, my observation focuses on the 4300 and 4200–4250 range. This is not only a key support zone on the daily chart from the previous period but also a relatively reasonable area for a pullback completion in the downward rhythm. If it can effectively reach and stabilize here, a larger level rebound may occur; if this level is lost, deeper downward space may open up.

Combining with the current market situation, the center has completed three segments, and what is currently lacking is the "last drop." Once this is filled, the structure will be complete. In this case, the short-term strategy remains to short on rebounds, and blindly bottom-fishing is not recommended. It is essential to maintain position discipline and strictly set stop-losses.

Summary:

Rebound range: 4480 / 4540 can consider shorting in batches

Downside target: 4300, 4200–4250 support zone

Market status: Weak rebound, bearish rhythm unchanged