Interpretation of the market trend on November 3.

Yesterday at midnight, the price fluctuated within a narrow range, repeatedly battling back and forth. In the evening, it first fell to a low of 109661, but then saw a rapid push upward, reaching a high of 110286 at midnight. However, the resistance above remained strong, and the price was once again pressured downwards, nearing the morning low of 109368. Overall, it exhibited a volatile rhythm of "downward probe - rebound - further pressure."
Ethereum synchronization has fallen into a volatile consolidation pattern, fluctuating back and forth within a narrow range between the low of 3838 and the high of 3867. Both parties are fiercely competing within this range, but have not managed to break the balance, and the short-term oscillation and consolidation trend is quite evident.
The current market shows a clear state of stalemate in the battle between bulls and bears. On the daily chart, after experiencing a pullback with four consecutive bearish candles, the market has gradually recovered lost ground to the middle band of the Bollinger Bands with two consecutive bullish candles. However, the bullish momentum has encountered significant resistance here, failing to push prices to form an effective breakout. The middle band of the Bollinger Bands has become a critical resistance zone for the current bullish rebound. If it cannot successfully hold this position in the short term, the upward movement will be greatly restricted. On the four-hour chart, the trend also reveals weak signals. After a pullback dominated by a large bearish candle, the market has seen two small bullish candles, but the rebound strength is weak, lacking sustained upward momentum. The MACD indicator shows a continuous decrease in volume for the histogram above the zero line, suggesting that bullish strength is waning. The KDJ and RSI indicators are all extending downward in unison, further confirming the weak characteristics of the short-term trend. Although there are relatively long lower shadows left by the bearish candles, indicating some support below, the overall pattern has shifted towards a weak consolidation.