From the 1-hour trend perspective, ETH tested the bottom around the 2025 level in 2025 and subsequently rebounded. The price is currently oscillating near 2050, but the overall structure remains in the weak rebound recovery phase following a decline, with the highs continuing to lower and the trend still biased downward.

MACD is below the zero axis. Although there are signs of reversal, it has not yet formed an effective golden cross. The red histogram lacks obvious volume expansion, indicating that short-term bullish momentum is weak, with the overall structure still remaining in a recovery phase within a downtrend. MACD is essentially used to judge trend direction, and it is currently still operating in the bearish zone.

RSI is running around 40, with a slight rebound from the oversold area to the weak zone. Market sentiment has recovered somewhat, but still remains below the 50 midline, suggesting the overall bias is still downward. RSI below 50 typically indicates the market is in a weak state.

KDJ turned upward from the low point. There is a short-term rebound requirement, but the indicator has not yet entered a strong zone, with limited rebound strength and still carrying downside reversal risk.

In terms of trading volume, there was obvious volume expansion during the decline, while volume contracted during the rebound process, indicating that the current rebound lacks sustainability and leans more toward technical correction rather than trend reversal.

Resistance: 2060—2080 Support: 2020—2045

Current situation is a rebound within a downtrend, not a reversal.