ETH market analysis today:
1. K-line pattern:
- The recent K-line shows an obvious oscillating trend, and the price fluctuates in the range of 2200 to 2300.
- There are many long lower shadows on the daily chart, indicating that there is strong support below.
2. Technical indicators:
- MACD: The hourly MACD fast and slow lines are both below the zero axis, but there are signs of convergence. The bar chart turns from negative to positive, and there may be a rebound in the short term. The daily MACD is still in the short position, so be cautious.
- RSI: The hourly RSI is close to 50, not entering the overbought or oversold zone, and the market sentiment is neutral. The daily RSI is slightly below 50, tending to be weak.
- EMA: The hourly EMA7 (2272.7) and EMA30 (2286.5) cross frequently, indicating that the short-term trend is unclear; EMA120 (2380.8) is much higher than the current price, and the long-term trend is still bearish. The daily EMA is in a short position, and the overall trend is bearish.
3. Trading volume:
- The hourly trading volume has increased, especially when the price hits the low point, showing a certain willingness to buy at the bottom.
- The daily trading volume gradually decreased after the plunge, and the market is in a wait-and-see mood.
【Buy and sell points】
- Buy point 1: 2240 USDT (near the previous low point, there is strong support)
- Buy point 2: 2200 USDT (integer level, and the lower edge of the recent oscillation range)
- Long stop loss point: 2185 USDT (15 points below buy point 2 to avoid false breakthroughs)
- Sell point 1: 2320 USDT (near the previous high point, there is selling pressure)
- Sell point 2: 2380 USDT (EMA120 position, long-term moving average pressure level)
- Short stop loss point: 2400 USDT (20 points above sell point 2 to prevent false breakthroughs)
