Yesterday's morning session was mostly volatile, with a significant bearish push in the afternoon, causing the price to decline steadily. In the evening, it touched a low of around 65,600, with a daily drop of nearly 4,000 points. Our trading approach remains to follow the trend and go short. All high-position short orders on the Ethereum pair have been successfully closed for profit.

From the current market situation, Ethereum continues to break downward, with rebound strength gradually weakening. Bullish buying momentum is insufficient, making it difficult for the price to stabilize. The daily chart shows two consecutive bearish candlesticks, breaking below the previous upward wedge support, further opening downside space. It is expected that the weekend will mainly see sideways consolidation. The four-hour chart shows continuous downward candles, indicating the bearish trend persists. The price is moving along the lower band of the Bollinger Bands, with no clear signs of bearish exhaustion. The one-hour chart, after a deep decline, has entered a consolidation and correction phase, with the price oscillating near the middle Bollinger Band, showing slight rebound potential in the short term. Although there are rebound signals, the overall bearish trend remains unchanged, with limited rebound height. Future rebounds will still present high shorting opportunities.

Trading suggestions:

Ethereum rebound around 66,900–67,500, short targeting 65,300–63,800

Ethereum rebound around 2,020–2,050, short targeting 1,930–1,850