Last night, ETH was generally in a downward trend.

The bearish arrangement of moving averages and the death cross formed a strong bearish resonance, with increased trading volume and prices below VWAP, indicating that bearish forces are dominant. Market sentiment is neutral, and there is no obvious pressure in the macro environment, with limited external factors affecting the market. The RSI is in an oversold state, and prices are close to the lower Bollinger Band, which may trigger a short-term technical rebound, but caution is needed regarding the interference of rebound risks on bearish strategies.

ETH shows a clear downward trend in the 15-minute cycle, with technical signals indicating that bearish forces are dominant. The moving average system has formed a bearish arrangement, and a death cross has appeared, with increased trading volume accompanying price declines, further confirming the market's weak pattern. At the same time, prices are below VWAP, and the pattern of increasing volume with declining prices indicates significant selling pressure, suggesting that downward pressure remains substantial in the short term.

Additionally, the emergence of a bullish engulfing pattern conflicts with the overall downward trend; although its signal strength is limited, attention should still be paid to its potential interference with market rhythm. Therefore, the main driving force in the market still comes from technical signals. Overall, the probability of ETH maintaining a downward trend in the short term is relatively high, but caution is needed regarding the possibility of a technical rebound. The bullish engulfing pattern suggests a potential reversal but conflicts with the trends of moving averages and the bearish signals of increased trading volume.

The overall external environment is rated as "neutral." Market sentiment is neutral (Fear & Greed Index), showing no obvious extreme emotions. Macro pressure is limited, with no significant changes in the U.S. dollar index or bond yields. The news is mixed, with overall sentiment being complex but lacking a clear directional drive. There are no major event risks, and external factors have minimal interference with the market. #ETH创历史新高 $ETH