Ethereum this morning closed the weekly line with the price dropping down and piercing the 4300 level. Currently, it has rebounded after reaching a low of around 4250. The hourly market is hovering near the lower Bollinger Bands channel, showing a continuous bearish pattern. There has not been a clear bottom or new high in the small-scale pullback so far, and the lower wick formed in the short term is not stable. It is expected that after a brief rebound and adjustment within the day, it will continue to move downward.

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