ETH Analysis

Bollinger Bands Indicator: The four-hour chart is opening downward. The three lines correspond to prices of 3180, 3020, and 2861. After the price breaks below the lower band, it begins to consolidate sideways at the lower boundary. The Bollinger Bands on the one-hour chart have already contracted, with the three lines parallel, corresponding to prices of 2970, 2944, and 2917.
Moving Average Indicator: On the one-hour chart, the short-term moving averages are crossing in a complex manner, while the medium- and long-term moving averages are arranged sequentially from top to bottom. The MA10 on the four-hour chart is forming short-term resistance. If it cannot break above and continues to test the support level, a steady hold above MA10 will lead to testing the mid-line; if not broken, it will continue to decline.
MACD: On the four-hour chart, the fast and slow lines form a golden cross below the zero axis, with the opening not significantly widening, indicating that bullish momentum is beginning to build. On the one-hour chart, below the zero axis, after a death cross, the fast line begins to converge, and bearish momentum starts to weaken.
RSI: On the four-hour chart, the fast and slow lines cross in a complex manner within the normal trading range. On the one-hour chart, during the downward process within the normal range, the fast line begins to converge.
Conclusion: Sentiment is oscillating with a bias toward upward movement. If it cannot test and hold above the four-hour mid-line, the market will continue to decline.
Resistance: 2968 (short-term), 3020, 3069, 3120
Support: 2900, 2831
Strategy: If it does not break above 2968, consider shorting; add to long positions at 3020; add to long positions again at 3069; stop loss at 3120.