$ETH 【Ethereum Trend Analysis】
K-line Pattern:
1-hour Level: Recently formed a descending channel, with prices quickly dropping from around 2680 to a low of 2515, followed by a weak rebound, with high points gradually moving down (2587→2563→2555), and low points testing the 2515 support.
Daily Level: A long bearish candle appeared on May 23 (2671→2526), accompanied by massive selling pressure. The next day, the rebound was weak, forming a 'bearish engulfing' pattern, with short-term bearish dominance.
Technical Indicators:
MACD:
1-hour level DIF and DEA have diverged below the zero axis after a dead cross, with the MACD histogram shrinking from -32 to 6.34, indicating weakening bearish momentum but not yet reversing.
At the daily level, MACD formed a dead cross at a high (172→181), with the histogram turning negative, signaling a mid-term adjustment.
RSI:
1-hour level RSI (43.46) is in a neutral to weak area, not entering oversold, reflecting weak rebound.
Daily level RSI fell from 73.57 to 62.79, exiting overbought but still not bottoming out.
EMA:
1-hour level prices are pressured by EMA7 (2547) and EMA30 (2575), showing a bearish arrangement.
At the daily level, EMA7 (2548) crossed below EMA30 (2291), with the 120-day moving average (2567) as key support.
Trading Volume:
Crash Volume: During the crash period on May 23 from 19:00 to 20:00, trading volume surged (110,000→140,000 ETH), with concentrated selling pressure released.
Rebound Low Volume: Recent rebounds (e.g., May 24 from 10:00 to 12:00) had trading volumes of only 7460-13086 ETH, lacking buying follow-up.
(Note: Key integer levels for reference - Resistance 2580/2600, Support 2515/2500; previous low of 2515 as the boundary between bulls and bears)
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