$ETH 24-hour trend [down] July 4
[Buy and sell points]
Buy point 1: 3100 USDT (close to the integer mark, and support may be generated near the previous low)
Buy point 2: 3050 USDT (further down to a stronger integer mark, it is expected to form a strong support)
Long stop loss point: 3000 USDT (if it falls below the 3000 integer mark, the trend will continue to decline and it is not suitable to hold)
Sell point 1: 3300 USDT (close to EMA7 and the previous high area, selling pressure may be generated)
Sell point 2: 3400 USDT (close to EMA30 and the previous band high, there is great pressure)
Short stop loss point: 3450 USDT (if it breaks through 3450, it indicates that the upward trend is established and stop loss should be stopped in time)
[Price trend analysis]
K-line pattern:
The recent K-line shows a clear downward trend, especially the sharp decline for two consecutive days on July 3 and 4, 2024. There was a short rebound from June 28 to July 1, 2024, but it failed to break through the previous high.
Technical indicators:
MACD: MACD continues to be below the zero axis, and both DIF and DEA diverge downward, indicating that the short force is strong. RSI: RSI is currently 32.85, close to the oversold zone, but has not yet entered the extreme oversold state, and there may be a technical rebound. EMA: The current price is lower than EMA7, EMA30 and EMA120, showing that the overall trend is downward. EMA7 (3339.44) and EMA30 (3454.16) form a dead cross, further confirming the downward trend.
Trading volume:
On July 3, 2024, the trading volume was significantly enlarged to 2520353, accompanied by a large negative line, indicating that the selling pressure is serious. On July 4, 2024, the trading volume decreased to 1232405, but it still remained at a high level, and the market sentiment was still bearish.
