Price Trend Analysis

ETH is continuing to build a central point in the hourly cycle, with a fluctuation range of 4500-4700.
K-line patterns:
The recent hourly chart shows that the price is oscillating around 4560, forming a short-term sideways structure. The previous high of 4588.22 (08/28 13:00) and the low of 4467.63 (08/28 08:00) constitute the current fluctuation range.
The daily chart shows a long lower shadow (lowest at 4481.53 on 08/27, closing at 4506.71), indicating that there is buying support below 4560.
Technical indicators:
MACD: The DIF and DEA on the hourly chart have narrowed after the death cross below the zero line (-7.37/-6.49). The daily MACD histogram has shrunk to -54.46, indicating a weakening of bearish momentum but no trend reversal yet.
RSI: The hourly chart RSI ( is hovering in the neutral range of 49.95, while the daily RSI is at 56.94, still in the bullish zone, with no signs of overbought or oversold.
EMA: The hourly chart price is pressured by EMA30)4561.31(, and EMA7)4551.50( is about to cross below; on the daily chart, EMA7)4543.68( and EMA30)4231.14( maintain a bullish arrangement, indicating a long-term upward trend.
Trading Volume:
During the sharp decline, there was an increase in volume (on 08/28 at 04:00, a transaction volume of 49776 corresponded to a fluctuation between 4511-4614). Currently, the volume has decreased to 4146 (at 14:00), and the market sentiment is one of caution.
On the daily chart, on August 22, a surge of 1.27 million contracts initiated the rise. Recently, during the adjustment phase, the trading volume has stabilized at the level of 600,000 contracts, with no large-scale capital withdrawal observed. )