📣 Ethereum trend continues to rise, could it be a trap?

From the current Ethereum trend, it has been in a rebound trend, with yesterday's trend adjusting close to 200 points. Such movement is a normal corrective rebound, and this trend easily shows signs of the market makers harvesting (as shown in the image). Short positions have already been harvested, and now we are waiting for long positions. It is advised not to easily go long in the future!

【Analysis of Ethereum price trend from a four-hour perspective】

Candlestick pattern:

Recently, the price has been fluctuating at a high level, forming multiple candlesticks with long upper shadows, indicating heavy selling pressure above. The daily candlestick level shows consecutive bearish candlesticks, indicating a cautious market sentiment in the short term.

Technical indicators:

MACD: The 4-hour MACD is in the negative territory but shows signs of convergence, possibly indicating a weakening of downward momentum.

RSI: The RSI value is close to 60. It has not entered the overbought zone, showing that the current market still has some room for upward movement, but caution is advised regarding the risk of a pullback.

EMA: The price is currently above the EMA7, indicating that the short-term trend is still bullish; however, it is far from the EMA30, and if it pulls back to this area, support strength needs to be monitored.

Trading volume:

Recently, trading volume has increased, especially on May 12 and 11, indicating increased market activity. The current trading volume is relatively stable, with no significant contraction or expansion observed, indicating that the market does not have extreme emotions for now.

Evening Ethereum steady profit layout on 5/13:

It is recommended to enter short positions around 2520-2540 for Ethereum, with target points: 2480-2460-2400. If it breaks below 2400, watch for 2380.

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