Analysis of ETH Market for $ETH ,
1. Candlestick Patterns:
🔸 The daily level shows recent prices oscillating in the range of 2400-2460. On June 27, a long upper shadow was formed, indicating heavy selling pressure above.
🔸 The hourly level has shown a slight rebound in recent hours, but overall it remains in a weak consolidation phase after a decline.
2. Technical Indicators:
🔸 MACD: In the hourly chart, both DIF and DEA are negative, and the histogram continues to stay below the zero axis, indicating bearish dominance; however, there are signs of decreasing volume in the short term, which may lead to a consolidation repair.
🔸 RSI: The hourly RSI is currently 47.1, positioned in the neutral zone, with no obvious overbought or oversold signals, and the trend direction is unclear.
🔸 EMA: The hourly EMA7 (2420.3) and EMA30 (2430.1) have crossed downward and continue to diverge, with short-term pressure concentrated around 2430. EMA120 (2420.2) is close to the current price and provides some support.
3. Trading Volume:
🔸 Daily trading volume is gradually shrinking, decreasing from the peak of 744584 on June 23 to 366398 on June 27, indicating reduced market activity.
🔸 Hourly trading volume has fluctuated greatly, with significant reductions in volume in recent hours after an earlier surge and drop, leading to a cautious market sentiment.
👉🏻 The 1-hour level is in a sideways state!
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The above content represents personal opinions only and does not constitute any investment advice!