Price trend analysis
K line shape:
The daily chart shows that the price is currently in a state of high volatility after experiencing large fluctuations. The plunge on August 5 and the surge on August 8 formed an obvious V-shaped reversal.
On the hourly chart, the price has been hovering around 61,000 in recent hours, testing this level multiple times but failing to effectively break out.
Technical indicators:
- MACD: The hourly MACD indicator shows that the fast and slow lines (DIF and DEA) are both above the zero axis, but there are signs of a dead cross, suggesting that there may be callback pressure in the short term.
- RSI: The hourly RSI is close to the overbought range (64), but has not yet entered the extreme zone. You need to pay attention to whether it will continue to rise or fall back.
- EMA: The current price is higher than EMA7, but far away from EMA30 and EMA120. The short-term trend is still biased towards the long side, but the risk of callback exists.
Volume:
-Daily trading volume: reached a peak on August 8 and then decreased, indicating that market sentiment is gradually stabilizing.
- Hourly trading volume: dropped significantly at 14:00, indicating that the market has a strong wait-and-see sentiment and may lack a directional breakthrough in the short term.