Ethereum's short-term trend is also a consolidation phase. From the four-hour pre-market view, there have been two instances of increased selling volume, but the candlestick patterns all show lower shadows, indicating that the bulls still have strength. The four-hour MACD volume bars are shrinking, suggesting an unclear market trend. Currently, the entire crypto market is facing liquidity shortages, increased holiday wait-and-see sentiment, annual changes, and most importantly, there is no narrative to drive market sentiment. In June, the bull market was fueled by expectations of Fed rate cuts. In October, events such as Bitcoin being seized, weakening rate cut expectations, high US stock market P/E ratios, and ancient whale sell-offs led to market declines. The biggest missing element now is a story to attract capital. There will be no #加密行情预测 in the short term.