Price Trend Analysis

Conclusion: ETH continues to build a downward center on the 4-hour chart, with a fluctuation range of 4200-4360.
K-line pattern:
1-hour level: Recently formed a double top structure, with highs at 4336.02 and 4330.97. The current price is oscillating in the 4290-4300 range and has not been able to break through the previous highs.
Daily level: After peaking at 4336 on September 7, it fell back, forming a long upper shadow, indicating strong selling pressure above 4300. The low point of 4256 on September 5 and the low point of 4270 on September 7 constitute short-term support.
Technical indicators:
MACD: The 1-hour level DIF crosses below the DEA forming a death cross, while the daily level MACD histogram continuously shrinks, indicating a weakening of bullish momentum.
RSI: The 1-hour RSI14 hovers around 50, while the daily RSI14 has fallen from 55.87 to 49.55, weakening before entering the overbought zone.
EMA: The price has been continuously operating below EMA30 (4297) at the 1-hour level, with EMA7 (4297) crossing below EMA30 to form a death cross. At the daily level, EMA7 (4321) is still above EMA30 (4280), but the slope is flattening.
Trading Volume:
1-hour level: After a surge in volume to 17140 at 07:00 on September 8, the volume has continued to shrink, currently down to 260, with a strong atmosphere of market wait-and-see.
Daily level: On September 7, the trading volume of 169,000 hands was lower than the 624,000 hands on September 5, indicating a lack of upward momentum. The key support level around 4270 needs to be monitored for volume changes. #ETH#