$ETH Capital and Technical Analysis

Dear friends, $ETH is still primarily characterized by net capital outflow, with a weak capital situation. Yesterday, there was only a slight net inflow of 2520 ETH, which is insufficient to offset the ongoing selling pressure. The core pressure comes from the inflationary selling pressure brought by the POS mechanism, with new tokens continuously entering the market, compounded by a large demand for staking unlocks or sales, showing clearly insufficient rebound momentum.

From a technical perspective, the bearish signals are strong: the weekly chart has formed a death cross, and the consolidation time at the bottom is insufficient; the daily chart is in a bearish descending wedge, with the target looking towards around $1600 after breaking down; in a major downtrend, any rebound can be seen as a shorting opportunity. The four-hour chart shows that highs and lows are continuously declining, forming an M-top pattern.

Short-term operational thinking: focus on shorting when rebounding above $2125, and it is not recommended to chase long positions.

Shorts can pay attention to light positions when the highs retreat, with strict stop-losses, targeting the important support below. Currently, ETH is still in a major adjustment channel, and the rebound height is limited, suggesting operations with small positions and strict risk control. For brothers who want to trade contracts safely, it is advisable to wait for clear breakout signals before taking action.

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