This morning, brothers who opened the candlestick chart must have felt that shock—ETH suddenly experienced a surprise dump. Don’t think it was just a lag in the trading software; this is the market demonstrating in real action what "trend non-negotiable" truly means.

There are always only two voices in this market: the bulls step on the gas and go all out, while the bears immediately weld the brakes shut. Today clearly belongs to the latter’s celebration.

From the 4-hour chart, this decline can be regarded as a classic case of bear trap. How bleak are the technical details? Let me break it down—

The 3200 support at the middle band of the Bollinger Bands was instantly broken, and the previously healthy upward channel was shattered into pieces. It felt like climbing halfway up a mountain and suddenly slipping, with no way to stop the subsequent downward movement. The story of MACD is even more straightforward: after the death cross, the green bars are like inflated balloons, expanding wildly to an absurd degree. This isn’t just a simple correction; it’s a full release of bearish momentum.

The most interesting part is those "oversold signals." RSI dropped to 22, and KDJ hovered around 4—by normal logic, it should rebound, right? But that’s where surface illusions deceive. There’s a hard rule in crypto markets called "oversold can become more oversold." Recall last year’s algorithmic stablecoin collapse, when BTC’s RSI plunged directly to 15. Those who bought the dip early are still standing guard at high levels. History loves to repeat this pattern.

The technical picture is clear-cut, but today’s news is the real source of a series of hidden arrows. The latest moves from a major trading platform, combined with the market sentiment hitting rock bottom… with this combination, the bears’ chances of winning are indeed not small.