$ETH shows significant medium-term volatility on the 4-hour chart. Here are some key observations:
First, the price has shown a clear upward trend in the past few days and is currently running in an upward channel. The recent price increase has broken through the key resistance level and successfully stabilized above it, which shows that the buying power in the market is strong and the upward trend is expected to continue.
Secondly, from the perspective of technical indicators, the moving averages (such as the 50-hour and 100-hour moving averages) are all showing an upward trend, with the 50-hour moving average above the 100-hour moving average, forming a "golden cross", which is a strong bullish signal. Although the RSI (Relative Strength Index) is close to the overbought area, it has not yet reached an extreme level, indicating that there is room for prices to rise further.
The MACD (Moving Average Convergence Divergence) indicator is also showing a bullish signal, with the MACD line above the signal line and the histogram expanding in the positive territory, suggesting increasing buying power.
In terms of volume, the recent price increase has been accompanied by an increase in volume, showing an increased interest in ETH among market participants. However, it should be noted that if the volume decreases rapidly at a high level, it may indicate an imminent price correction.
In general, the 4-hour Ethereum chart reflects a strong upward trend and positive market sentiment in the medium term. It is necessary to pay attention to the breakthrough of the upper resistance level and the effectiveness of the lower support level, and set the stop loss level reasonably to prevent the risk of a possible callback. It is very important to adjust the operation strategy to cope with market changes.