Yesterday, influenced by the CPI data, the trend experienced another surge, breaking through new highs once again. Currently, the trend is in a correction phase; it is recommended to short at high positions!
【Analysis of Ethereum Price Trend from the Four-Hour Chart】
Candlestick Pattern:
After a significant price increase recently, a pullback occurred, forming a high-level oscillation candlestick pattern. The daily chart shows long upper and lower shadows, indicating strong selling pressure and buying interest in the market.
Technical Indicators:
MACD: The MACD on the 4-hour period is in the negative zone, but the fast and slow lines are close to the zero axis, indicating potential short-term rebound demand. The daily-level MACD remains in the positive zone, showing a bullish trend.
RSI: The RSI on the 4-hour period has dropped from the overbought zone to the neutral area, with the current value at 62.39, indicating a weakening of market momentum. The daily-level RSI has also retreated from high levels, requiring attention to whether it continues to decline.
EMA: The price is currently hovering near the EMA7; if it breaks below, it may test the EMA30 support. The EMA120 is far from the current price, and the long-term trend remains upward.
Trading Volume:
The trading volume on the 4-hour period has decreased, showing a decline in market participation and strong wait-and-see sentiment. The daily-period trading volume has significantly shrunk after a surge on the previous trading day, indicating a decline in market enthusiasm.
Evening Ethereum Stable Profit Layout on 5/14:
It is recommended to enter short positions around Ethereum 2650-2680, with target points: 2600-2580-2530!