From the current Ethereum trend, the trend has been on a rebound. Yesterday, the trend adjusted close to 200 points, which is a normal correction rebound. Such trends can easily show signs of market manipulation; short positions have already been harvested, and now we are just waiting for long positions. It is advised not to easily go long in the coming market!
【Analysis of Ethereum price trend from a four-hour perspective】
Candlestick Pattern:
Recently, the price has been fluctuating at a high level, forming several long upper shadow candlesticks, indicating heavy selling pressure above. The daily candlestick has shown consecutive bearish candles, indicating that market sentiment is cautious in the short term.
Technical Indicators:
MACD: The 4-hour MACD is in the negative territory but shows signs of convergence, which may indicate a weakening downward momentum.
RSI: The RSI value is close to 60. It has not entered the overbought zone, indicating that there is still some room for an upward move in the current market, but caution is needed for potential correction risks.
EMA: The price is currently above the EMA7, indicating that the short-term trend is still bullish; however, it is quite far from the EMA30. If it corrects to this area, attention should be paid to the support strength.
Trading Volume:
Recently, trading volume has increased, especially on May 12 and 11, indicating an increase in market activity. The current trading volume is relatively stable, with no obvious shrinkage or expansion, indicating that the market does not have extreme emotions at this time.
Evening Ethereum steady profit layout on 5/13:
It is recommended to enter short positions around 2520-2540 in Ethereum, with target points: 2480-2460-2400. If it breaks below 2400, watch for 2380.