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Ethereum Daily Analysis:
On the 4-hour chart, the Bollinger Bands continue to open downward, with a very clear downtrend. The moving averages and various indicators all point to bearish sentiment.
On the 1-hour chart, ETH encounters strong resistance whenever it rebounds slightly and immediately reverses. Consecutive bearish candles continue to push lower, with short-term momentum completely controlled by bears.
Currently, there are no meaningful rebound signals across all timeframes. The overall downtrend is very clear. Going short with the trend is the correct approach.
Ethereum Trading Setup:
Short around 2060-2100 levels, targeting around 1960.
$ETH