1h/ETH
K-line pattern analysis
From the chart, we can see that the ETH price has pulled back after reaching a high of 3524.16 USDT, and the current price is around 3393.56 USDT.
Judging from the K-line pattern, the price has clearly fallen from the high level and shows a downward trend in the short term.
Moving average analysis
Short-term moving average (5-day moving average): The price is trading below the 5-day moving average (3454.64 USDT), indicating that the market sentiment is bearish in the short term.
Medium-term moving average (10-day moving average): The price fell below the 10-day moving average (3428.82 USDT), and the medium-term trend weakened.
Long-term moving average (30-day moving average): The 30-day moving average (3399.39 USDT) is flat, indicating that the long-term trend is unclear.
Support and Resistance
Resistance level: 3450 USDT and 3524.16 USDT are the main resistance levels. If this position cannot be effectively broken through, the upward pressure will be relatively large.
Support level: The current support levels are 3300 USDT and 3240 USDT. If it falls below this level, the price may continue to fall.
Volume Analysis
The trading volume increased during the rise, but gradually decreased at high levels, indicating that the bulls' strength was weakening. The current correction process has increased trading volume, indicating that the market has a large selling pressure.
MACD indicator
The MACD fast line and slow line formed a death cross above the zero axis, indicating that the market may continue to adjust in the short term.
If the fast line forms a golden cross below the zero axis, it may be a rebound signal.
RSI indicator
The RSI indicator is currently close to 40, showing that market sentiment is bearish, but it is still some distance away from the oversold range, indicating that prices may continue to adjust in the short term.
Bollinger Bands Analysis
The price is running near the lower Bollinger Band. If the price cannot rebound effectively, it may continue to run along the lower Bollinger Band.
Future Trends Prediction
In the short term
Bearish shock: The price may fluctuate between 3300 USDT and 3450 USDT. If it fails to break through 3450 USDT, it is likely to continue to decline in the short term.
Downside potential: If it falls below 3300 USDT, the price may further drop to 3240 USDT.
Medium to long term
Rebound after adjustment: If the price is supported near 3300 USDT or 3240 USDT and the trading volume increases, there may be a rebound opportunity.
Trend conversion: If the price rebounds and breaks through 3450 USDT and 3524.16 USDT, the medium- and long-term trend will turn strong again.
Operational Strategy
Short selling strategy
Short on rallies: When the price rebounds to the 5-day moving average (3454.64 USDT) or the 10-day moving average (3428.82 USDT) and is blocked, you can consider shorting.
Breakthrough short selling: When the price falls below 3300 USDT, you can follow the trend and short sell.
Buying strategy
Buy on dips: When the price gets support near 3300 USDT or 3240 USDT and a rebound signal appears, you can buy in batches.
Breakout Buy: When the price breaks through 3450 USDT and the trading volume increases, you can buy according to the trend.
