From a technical perspective, Ethereum has already broken below the downward channel. Currently, the blue lower band is forming resistance, and the rebound is still encountering obstacles — maintaining a bearish outlook remains unchanged.

On the 4-hour chart, after falling yesterday, it found support at the purple trend line and is gradually climbing along this line. But the problem is clear: once this support level is broken downward, a rebound near the green circle above is likely to fail, so this area warrants close attention.

Turning to the 1-hour chart, the rebound after the decline has returned to the rectangular zone from a couple of days ago, just without a clear breakthrough of the midline. If the lower boundary of the rectangle continues to hold as support, there are still opportunities for short-term oscillations; if the breakout fails to sustain a rebound, the outlook remains bearish.

The 15-minute chart is even clearer — under the suppression of the white trend line, a lower purple downtrend has formed. If the support at the rectangle's lower boundary is broken, reaching the midline and upper boundary becomes the rebound target. But from the current position, if the rebound cannot go higher, it’s a good opportunity to short.

⚠️ Reminder: Do not open a position without a stop-loss.