3.31 Ethereum Morning Analysis

The bearish trend for Ethereum remains unchanged! The price continues to be pressured below the middle band of the Bollinger Bands, with each rebound meeting resistance and quickly falling back. The overall trend shows a clear downward pressure pattern. The MACD indicator remains below the zero line, with a solid death cross and green bars continuing to expand, indicating full bearish momentum. The market volume structure is clear: during rebounds, volume steadily decreases; during declines, volume accelerates. The bulls are unable to withstand the onslaught of the bears, and they are retreating step by step.

Although there is a slight technical rebound on the 1-hour chart, the larger downward channel remains intact, and the current rebound is only a weak correction after overselling, not a trend reversal. Multiple moving averages above and previous high-volume trading zones form a strong resistance zone. It is very difficult for the price to push higher, and the upward space is very limited.

Trading Suggestions:
Consider gradually shorting around 2080-2100, with targets around 2020-1980. If broken, continue to watch for a move down to 1950.