The current ETH/USDT 1-hour chart has clearly shifted into a weak downward trend, with the price breaking below the lower Bollinger Band, indicating increasing short-term bearish momentum.

The latest price is 2,126.61 USDT, down 1.02% from the previous hour. The closing price is at 2,126.61, having broken below the Bollinger lower band at 2,138.01, showing short-term support has failed and the market has entered an oversold zone. Although there was a brief rebound to 2,149.97 during the session, it failed to hold and was quickly pushed back down by the bears, indicating the bulls' counterattack is weak.

From the candlestick pattern:
- Continuous bearish candles dominate, with bodies gradually enlarging, typical of a "bearish arrangement."
- The most recent candle is a large volume bearish candle, with a low of 2,124.32, close to the 24-hour low, indicating persistent selling pressure.
- Trading volume has increased to 107,100 ETH, reflecting active liquidation by short sellers and a market sentiment leaning bearish.

Bollinger Band status:
- The lower band is opening downward, with the middle band at 2,165.74 and the upper band at 2,193.47, the widening indicates increased volatility and stronger directional movement.
- The price is trading below the lower band, in an "oversold" state, but unless a volume-supported bullish reversal occurs, the downward momentum may continue.
- If the price cannot quickly recover above the lower band, the next target could be in the 2,100–2,080 range.

Key support levels update:
✅ Support levels:
 • First support: 2,124.32 (today’s low)
 • Second support: 2,100.00 (psychological level)
 • Strong support: 2,080.00 (previous support level)

❌ Resistance levels:
 • Short-term resistance: 2,138.01 (Bollinger lower band, now acting as resistance)
 • Strong resistance: 2,165.74 (Bollinger middle band)

Overall assessment:
The market is currently in an accelerated decline phase, with multiple technical bearish signals. Unless a volume-supported bullish candle recovers above 2,138 and stabilizes, it is not advisable to bottom-fish lightly. Short-term traders should focus on shorting on rallies or waiting and watching, while medium-term investors can wait for clearer bottom signals (such as bullish divergence, long lower shadows, volume stabilization) before considering positioning.

Risk warning: If Bitcoin weakens simultaneously or macro news is bearish, ETH could accelerate toward the 2,100 zone; conversely, if a sudden positive catalyst triggers volume breakout above 2,165, a reversal and recovery to a consolidation phase may occur. Currently, the core strategy remains defensive and trend-following. #加密市场回涨