From 2367 to 2172, which layer of ETH's technical facade was torn apart by a large bearish candle?

The daily close earlier today remained near 2367, with the price still above the 0.382 retracement level; however, as of now, the daily candle has fallen to around 2244, with an intraday volatility of about 3.75%, and the crucial 0.382 support has been broken. This means that the rebound structure initiated from 1503 has now entered the "deep pullback" phase at the daily level, with the pivotal point for bulls and bears shifting down to around the 0.5 retracement level at 2155.

The price on the 4-hour chart continues to run below the 0.786 retracement level of 2393; it has now dropped to around 2245, with an intraday low touching 2172, just a step away from the previous low. The EMA of the moving average system has shown a complete bearish arrangement, with the price moving downward along the short-term moving averages, and the rebound is weak. The MACD continues to release green bars below the zero axis, and the DIF and DEA are opening downwards, with no signals of short-term bearish momentum exhaustion yet. Regarding the Bollinger Bands, the price has broken below the lower band at 2247, and is currently in an oversold area.

Lastly, it's important to note that the daily level breaking below the 0.382 retracement level is the most significant structural change today. The bearish arrangement at the 4-hour level is complete, and the MACD green bars are still amplifying, indicating a bearish trend in the short term. However, the price has touched the lower Bollinger band and is close to the previous low at 2172; if this position holds, a technical rebound may occur at the 4-hour level. If 2172 is broken, the next targets will be the daily 0.5 retracement level at 2155 or even the 0.618 retracement level at 2001.

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