$ETH Bearish dominance, difficult to reverse the downtrend with a rebound

From the hourly chart, ETH is currently in a clear bearish trend, with weak short-term rebounds, and the overall movement continues downward. The price and moving average structure are arranged in a bearish pattern, with obvious resistance.

The current price is 2298.42, down 0.74% in 24 hours, with the intraday low touching 2250.91. The recent trend focus remains consistent.

The candlestick pattern shows a rebound with decreasing volume, and the downward momentum has not been fully released. From the candlestick trend, the recent price experienced a rapid decline followed by a slight rebound, but the trading volume during the rebound shrank. This pattern is a typical feature of a bearish trend, with insufficient buying power. The rebound is only a technical correction, lacking increased capital to push higher. It is highly likely that the price will test the support levels again in the future.

Positioning: Bearish Entry: 2300-2328
Stop loss: above 2328 Target: 2250-2200

2. Bottom-fishing / Long entries: (Patience required)
It is not recommended to blindly bottom-fish. Wait until the price stabilizes around 2200 (appearance of bullish engulfing candlestick, volume rebound) before considering a long position. Stop loss below 2180, target 2280-2300.
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