#ETH

4-hour timeframe

Technical analysis of ETH/USDT price:

1. Current price action:

Current price: $3,301.70.

24-hour decline: -2.84%.

24-hour high: $3,403.00.

24-hour low: $3,275.00.

2. Technical indicators:

MACD:

DIF line: -103.13 (below DEA line: -108.84), indicating a continuation of the downtrend.

RSI (Relative Strength Index):

RSI reading: 34.84, which is close to the oversold zone (<30).

Stochastic Indicator (STOCHRSI):

K reading: 27.09 and D: 39.09, indicating a potential reversal if a positive crossover occurs.

Williams Indicator (Wm %R):

-55.88 reading, indicating that the price is close to the middle band, indicating that the direction is unclear at the moment.

Trading Volume (OBV):

Significantly declining, indicating weak buying momentum.

3. Bollinger Bands Trends:

The price is moving near the lower band of the Bollinger Band, indicating strong selling pressure and a potential rebound if buying momentum occurs.

---

Recommendations:

1. Short term:

If there is buying momentum nearby, the price may rebound to the $3,400 area (the middle band of the Bollinger).

Place a stop loss at $3,250 to avoid big losses.

2. Medium term:

Watch the MACD indicator and if there is a positive crossover between DIF and DEA, this may be a signal for the beginning of an uptrend.

Enter a gradual buy trade with momentum confirmation at $3,350 levels.