Ethereum Short-Term Bearish Trend with Potential Bounce

Based on the current analysis, I see that Ethereum (ETH) against USDT is trading at approximately $3671.41. Recently, the price experienced a significant decline from around $3880 down to nearly $3600, but there has been a slight rebound indicating some buying interest at lower levels. The recent candles suggest intensified volatility with strong bearish momentum, yet the appearance of a small bullish candle hints at potential short-term support or a minor bounce. From a technical perspective, the recommendation is to wait for a confirmed breakout above $3720 with robust volume before buying, which would indicate a potential upward trend continuation. Conversely, if the price drops below $3640, it could signal further downside towards $3600 or even lower, making it prudent to consider selling. The market currently lacks clarity, especially between $3640 and $3720, where high volatility could lead to unpredictable movements. Overall, the trend is predominantly bearish in the short term, though a minor bounce could occur. The confidence level is moderate, around 6 out of 10, reflecting the current uncertainty and volatility in the ETH/USDT pair. Investors should exercise caution, watch for confirmed breakouts, and avoid trading within the high-volatility range until clearer signals emerge.