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ETH Hourly Trend Analysis
K-line pattern:
Daily level: Recently, the price quickly rebounded from a low of 4056 to a high of 4375 and then retreated, forming a long upper shadow inverted hammer pattern, suggesting strong resistance above 4300. Hourly level: The current price is fluctuating narrowly around 4290, forming a short-term range of 4282-4320.
Technical Indicators:
MACD: 1-hour level DIF ( 23.18) crosses below DEA ( 27.87), histogram turns negative ( -9.38), daily MACD double lines are declining but still above the zero axis. RSI: 1-hour RSI ( 52.02) is flat in the neutral zone, daily RSI ( 57.23) is not overbought but shows signs of a top divergence. EMA: Hourly EMA 7( 4304) turns down crossing below EMA 30( 4274), daily EMA 7( 4310) forms a death cross with the price.
Trading Volume:
The surge in trading volume occurred during the breakthrough of 4250 on August 20 (with a volume level of 410,460), while the trading volume significantly shrank above 4300. The current hourly trading volume is only 43,961, indicating a strong market sentiment of wait-and-see.
#ETH#