The following is the market analysis of Ethereum on the 4-hour and 1-hour charts:
4-hour Chart Analysis
- **Trend Analysis**: From the recent 4-hour candlestick chart, the price of Ethereum has been quite volatile overall, with no significant trend currently. The price has dropped significantly compared to 2024-12-24 12:00, but has rebounded compared to 2024-12-23 12:00, and has decreased compared to 2024-12-23 20:00. The last candlestick is bullish, with the closing price greater than the opening price.
- **Support and Resistance Levels**: According to BOSS Wallet analysis, the key support level is around $3230, while the resistance level is around $3499.
- **Technical Indicator Analysis**: The MACD histogram remains positive but is gradually shortening, indicating a weakening of bullish momentum; the KDJ indicator shows no golden or dead cross and is in a neutral state, with a value of 80, and there is a divergence between price and volume, meaning the price is rising but trading volume is decreasing, indicating insufficient upward momentum.
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1-hour Chart Analysis
- **Trend Analysis**: The 1-hour chart for Ethereum has also shown some volatility, with the overall trend being unclear. The market is in a state of indecision between bulls and bears, with weak rebound strength.
- **Support and Resistance Levels**: The support level for the hourly chart's minor pullback is around $3400. As long as this level is not broken, a rebound can continue to be expected. The upper resistance level to watch first is $3500; if this resistance level can be broken and the 4-hour closing can hold, then the strength of this rebound will increase, with further resistance levels at $3600, $3700, and around $3900. If the 1-hour closing breaks below $3400 again, this minor rebound may end, resulting in another decline, with the lower target support at $3300, and if broken, further looking towards $3200 and $3100.
- **Technical Indicator Analysis**: From some data, the MACD and other indicators change rapidly in a short time, but they can generally reflect the instability of market momentum. If the MACD histogram is above the zero axis and gradually lengthens, it indicates a certain bullish strength in the short term; conversely, if it is below the zero axis and gradually lengthens, bearish strength is dominant. Additionally, if the Relative Strength Index (RSI) approaches the neutral zone, it also indicates that the market trend is not clear in the short term.
