11.3 Evening
Good evening everyone!
Ethereum is currently operating around 3706. Based on the current 1-hour K-line chart and technical indicators, the short-term trend is bearish, with weak characteristics evident. The price has fallen below the lower Bollinger Band, and short-term support has failed. Currently, it is oscillating at a low level, and the downward momentum has not significantly converged.
KDJ: The K, D, and J values are all in the oversold zone below 20. Although it is oversold, there has been no sign of a rebound, and the weak trend may continue in the short term;
MACD: The dual lines DIF and DEA continue to diverge downward below the zero axis, and the green bars are still expanding, with bearish momentum dominating.
In the short term, attention should be paid to the recovery of the lower Bollinger Band. If it cannot quickly rise above the lower band, it may further test the levels around 3670--3640--3610. If there is a volume contraction and stabilization, or a slight rebound to around 3735--3765--3800, the overall probability of a bearish adjustment remains high.
The above is just personal advice, for reference only. $ETH
