Ethereum is about to form a shooting star candlestick on the 1-hour chart, indicating increased bearish pressure after a long upper shadow.

#周末行情分析
The market failed to continue its rally after testing the 3,360 resistance level and is currently consolidating at high levels with narrow fluctuations, showing signs of stagnation. Although the price remains above all short-term moving averages (MA5-MA30) with a bullish alignment, the upward momentum has clearly weakened, and caution is needed for potential profit-taking leading to a technical correction.

Key Technical Signals:

1. Price and Resistance: The price encounters clear resistance in the 3,347-3,360 range, with consecutive upper shadows indicating heavy selling pressure.
2. Momentum Divergence: While the MACD DIF and DEA are above zero, the DIF line shows signs of flattening. The red momentum bars (MACD: 2.393) are beginning to shorten, indicating diminishing upward momentum and a potential bearish divergence.
3. Market Sentiment: RSI is at 61.78, in the strong zone but not overbought, suggesting that a pullback would be relatively healthy. It also indicates a low probability of a sharp reversal downward, more likely to see a correction through consolidation or sideways movement.

Operational Strategy and Key Levels:
Currently, it is not advisable to chase the highs. The strategy should shift to “reduce positions on rallies and wait for a pullback to buy.”

Summary: ETH’s short-term upward trend remains intact but shows signs of fatigue. Before breaking through the previous high of 3,360, the market is likely to undergo a correction to digest profits and gather strength for the next push higher. Traders should avoid opening new long positions near resistance levels and instead adopt a defensive stance or look for short opportunities at high levels or during pullbacks.

Subscribers can access our support level plans for phased long entries, as well as in-depth analysis and possible patterns for this correction.
The above analysis is for market opinion sharing only and does not constitute any investment advice. Cryptocurrency is highly volatile; please manage risks carefully and make independent decisions.