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eth hourly Candlestick analysis
Conclusion: The hourly period is in a high-level range of fluctuations. Within the range, sell high and buy low, and follow the trend if the range is broken. The fluctuation range is 4220-4300.
Long Strategy
Buy Point 1: 4250 USDT (integer support level, combined with 1-hour EMA30 support near 4256, and the previous low of 4219 forming a buying opportunity) Buy Point 2: 4220 USDT (integer level, 1.1% away from Buy Point 1, close to the low of 4214.7 on August 12 at 07:00) Long Stop Loss Point: 4190 USDT (below the previous swing low of 4190, stop loss distance of 30 USDT, meets interval requirements)
Short selling strategy
Sell Point One: 4300 USDT (integer resistance level, the high point of 4322 on August 12 at 01:00) Sell Point Two: 4330 USDT (1% interval from Sell Point One, approaching the previous selling pressure area at the high point of 4366 on August 12 at 00:00) Short Stop Loss Point: 4360 USDT (stop loss distance of 30 USDT, above the previous high of 4366)
Candlestick patterns:
Recently, a long lower shadow appeared on the 1-hour chart (such as the low of 4219.04 at 08:00 on August 12), indicating strong buying support in the 4200-4220 range. On the daily chart, a large bullish candlestick was formed on August 9 (4009→4260), breaking through the previous high before a pullback, and overall, it is still in an upward channel.
Technical Indicators:
MACD: The 1-hour level DIF has crossed below DEA (August 12, 10:00, -2.65), indicating a short-term bearish trend; however, the daily MACD bars remain positive (68.35), and the medium-term trend is not broken. RSI: The 1-hour RSI (53.79) is neutral, not overbought or oversold; the daily RSI (72.57) is close to overbought, caution is needed for a pullback. EMA: The 1-hour EMA7 (4260.92) has crossed above EMA30 (4256.49), indicating a short-term bullish arrangement; the daily EMA7 (4104) is far above EMA120 (2960), indicating a long-term upward trend.
Volume:
The 1-hour level saw a surge in volume concentrated during key breakout periods (e.g., on August 11 at 21:00, the trading volume was 60,303), but there has been a recent decrease in volume (only 2,947 at 10:00 on August 12), indicating weakening momentum. At the daily level, there was a volume decline on August 11 (722,664) and a volume rebound on August 12 (40,454), with bearish pressure still needing to be digested. #ETH#