Ethereum 24-hour Market Analysis,
1. Candlestick Patterns:
Recently, after a sharp decline from June 12 to June 15, prices rebounded, forming a long lower shadow and a volatile consolidation trend.
In the last few days (June 18 to June 20), candlesticks showed a slight increase, with closing prices gradually rising, but there is significant resistance above.
2. Technical Indicators:
MACD: The current MACD histogram is still negative, but the downtrend is clearly shortening. The DIF and DEA are approaching the zero axis, indicating that bearish momentum is weakening, and it may enter a consolidation or bullish phase.
RSI: The RSI has rebounded from the oversold zone and is currently around 52, showing that market sentiment is neutral to strong, but it has not yet entered the overbought zone.
EMA: EMA7 (2550) has broken through and stabilized, approaching EMA30 (2526) from below, indicating a potential golden cross in the short-term moving averages; EMA120 (2387) is far below the current price, and the long-term trend remains bullish.
3. Trading Volume:
After a large bearish candlestick with high volume on June 13, trading volume gradually shrank, indicating a strong wait-and-see sentiment in the market.
On June 20, trading volume slightly increased alongside rising prices, suggesting that funds are beginning to tentatively enter the market.
Currently, the daily level is in a sideways consolidation!
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The above content represents personal opinions only and does not constitute any investment advice!