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📣1/23 Ethereum Trend Detailed Analysis and Steady Operation Recommendations Sharing: (Multiple consecutive days of layout exceeding expected profits)
Ethereum four-hour timeframe shows weak oscillation with a bearish bias, with prices fluctuating around 2940, within a downward channel. Short-term rebounds are weak, with clear support below and resistance above. Attention should be paid to key price level breakthroughs and volume changes. Currently, the price is about 2940, with intraday volatility between 2900-2990. Overall, it is consolidating with decreasing volume, and the rebound has failed to break above the 3000 psychological level.
From the four-hour Ethereum price trend analysis, recent candles show significant selling pressure above 3000, forming multiple long upper shadows, indicating strong resistance overhead. The last few four-hour candles display a oscillating downward trend, with lows gradually decreasing and highs not surpassing previous highs, indicating short-term weakness. MACD DIF and DEA are both below the zero line and remain negative. Although the momentum bars have shortened, they are still green, indicating that bears are dominant but weakening. The current RSI(14) value is 34.35, approaching the oversold zone. There may be short-term rebound needs, but the overall trend remains weak. EMA7