On October 18, 2024, Lao A conducted an in-depth analysis of the 1-hour price trend of Ethereum ($ETH ).
First of all, from the perspective of the K-line pattern, the recent price of ETH has shown a narrow range of oscillations in the range of 2600 to 2650. In particular, on October 15, the price showed a long lower shadow, which indicates that there is a certain amount of buying support at a lower price.
In terms of technical indicators, MACD shows that the current bar chart has turned from negative to positive, and the DIF line crosses the DEA line, which indicates that there may be signs of a rebound in the short term. However, overall MACD is still below the zero axis, so it is necessary to be vigilant about possible false breakthroughs. In terms of RSI, its value fluctuates around 50, which indicates that market sentiment is in a neutral to bullish state. For the EMA indicator, the 7-hour EMA has crossed the 30-hour EMA, and both are above the 120-hour EMA, which indicates that the trend is positive in the short term, but the medium- and long-term trends still need further observation and confirmation.
In terms of trading volume, the volume in recent hours has increased, especially when the price is close to 2630 USDT, showing that there is obvious selling pressure at this point. Overall, the trading volume remains relatively stable, without extreme volume expansion or contraction, and the market participation is moderate.
Regarding the buying and selling points, Lao A made the following suggestions:
The first buying point is at 2600 USDT, because this point is close to the previous low point, and the integer mark has strong support.
The second buying point is set at 2575 USDT, because there is support from EMA120 near this point, which is also the lower edge of recent fluctuations.
The long stop loss point is set at 2560 USDT, which is to further confirm the market weakness after falling below the second buying point.
The first selling point is 2650 USDT, which is set based on the pressure level of the upper box consolidation range.
The second selling point is set at 2675 USDT, because this point is close to the high point of October 15, and there is obvious selling pressure.
The short stop loss point is 2690 USDT. If the price breaks through this selling point, a new upward trend may form.
In summary, Lao A has made a comprehensive and detailed analysis of the 1-hour price trend of ETH and put forward corresponding buying and selling point suggestions for reference only
