11.4 Morning Analysis

Good morning, everyone!
Ethereum is currently running around 3617. Looking at the 1-hour candlestick chart, the short-term trend shows a weak trend, currently near the lower band of the Bollinger Bands. In the 1-hour cycle, the price shows a significant downtrend after a previous surge, continuously retracing. The short-term sentiment is bearish, continuing to decline after breaking below the middle band, running close to the lower band. The overall channel is inclined downward, indicating short-term weakness.
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The KDJ indicator's three lines are all in the weak zone between 20-50. Although the J value has slightly turned, it has not formed a clear rebound signal.
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MACD Indicator: DIF and DEA are below the zero axis, and MACD is in a death cross state, with bearish momentum still being released.

In the 1-hour timeframe, the short-term is in a weak consolidation phase after a decline. The support below is at the lower Bollinger Band. If it breaks below the lower band, it may further test the areas around 3582--3541--3510. The resistance above is at the middle Bollinger Band. If it can stabilize above the middle band, there may be a slight rebound to the areas around 3636--3668--3693. However, the current trend is still bearish, and attention should be paid to the restoration of market sentiment #eth .