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Interpret the ETH trend with a 1-hour Candlestick period.
[Price Trend Analysis]
1.Candlestick Patterns:
The 1-hour level shows a continuous bullish candlestick rebound, with short-term support forming around 4020, but there is significant selling pressure around 4035 (previous high in the 4035-4040 range).
The daily level is still in a downward channel. Yesterday, after a long lower shadow touched the low of 3929, it rebounded, but did not break through the previous day's high of 4174, forming a bearish continuation pattern.
2. Technical Indicators:
MACD: The 1-hour level DIF and DEA have formed a golden cross below the zero axis, but the daily level is still in a death cross state, indicating a bearish trend in the long term.
RSI: The 1-hour RSI 14 rebounded from the oversold zone at 33.8 to 47.3, not entering the strong zone; the daily RSI 14 is at 48.4, neutral to weak.
EMA: The price has rebounded above the EMA7 (4011), but the EMA30 (4038) and EMA120 (4037) have formed a death cross that suppresses it, with the 30-day moving average crossing below the 120-day moving average confirming a medium-term bearish trend.
3. Trading Volume:
The trading volume shrinks during the rebound on the hourly level (only 12144 at 21:00), lacking the persistence of buying.
On the daily chart, there was a sharp decline on October 28 with a trading volume of 955233, clearly signaling a breakout. Currently, the rebound volume is insufficient (261950 on October 29).
[Buy and Sell Points]
Entry Point 1: 3980 USDT (integer support level, overlapping area of EMA7 and short-term rebound low)
Buy point two: 3950 USDT (near the previous low point of 3957, key support after the sharp drop)
Long stop loss point: 3925 USDT (if it drops below the previous low of 3929.85, a new low is formed, indicating a trend reversal to bearish signal)
Sell Point 1: 4035 USDT (EMA30 and EMA120 death cross resistance level, previous high 4035 selling pressure zone on 1-hour chart)
Sell Point 2: 4050 USDT (Daily level EMA30 resistance at 4050, integer level combined with bearish trend)
Short stop loss point: 4075 USDT (if it breaks above EMA30 (4038) and further exceeds the previous high of 4070, then the trend reverses)
(Note: The buy point interval is 1%, the sell point interval is 0.37% due to integer threshold limitations, and the stop-loss interval complies with risk control ratios.)