3.23 Ethereum Morning Market Analysis

Four-hour Bollinger Bands have officially broken through. After the price pierced the middle band, it continues to decline along the lower band. The band opening diverges downward, and the bearish trend is established. The rebound strength is weak, constantly unable to recover the key support level of the middle band. Short-term weakness is difficult to reverse.

The MA moving average system shows a comprehensive bearish alignment. Short, medium, and long-term moving averages simultaneously press downward. The price operates below all moving averages with no obvious signs of reversal and stabilization. Rebounds face pressure immediately.

The KDJ indicator shows a continuous downward divergence after a bearish crossover at high levels. The J value rapidly explores the bottom. The bullish momentum is completely exhausted. Market sentiment is bearish, and the volatile downward pattern continues.

Operation Suggestion

Layout short positions at the 2080-2100 range on rebounds. Target level around 2000-1950.