【6.12 4-hour Trend Analysis $ETH 】
Candlestick Pattern:
The 4-hour level has formed a double top structure near 2865, then broke below the neckline at 2772, currently in a pullback phase.
The daily level has closed with two consecutive bearish candles, forming a dark cloud cover pattern, with obvious short-term selling pressure.
Technical Indicators:
MACD: The 4-hour level DIF has crossed below DEA forming a death cross, the daily level red bars are shrinking, indicating weakening bullish momentum.
RSI: The 4-hour level has fallen from the overbought area of 74 to 60, while the daily level at 64 is in a neutral to slightly bullish area.
EMA: The price has fallen below the 4-hour EMA7 (2788), but the daily remains above EMA30 (2671), and the monthly EMA7 (2536) provides long-term support.
Volume:
The 4-hour level saw volume increase to 110,000 when breaking below 2772, confirming the validity of the breakout.
On June 10, when the daily level surged, the trading volume reached 300,000, and during the recent pullback, the volume shrank to 80,000, indicating gradually reduced selling pressure.
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