$ETH Just took a glance at the one-hour K-line, this trend is simply outrageous!
Compared to six o'clock this morning, the price has dropped significantly, although it did recover a bit compared to ten o'clock last night, but it's still weak compared to midnight. A big bearish candle is standing there, and the last K-line is also green; the opening price is higher than the closing price, clearly indicating a downward trend!
Looking at the volume, the trading volume has shrunk as if it hasn't eaten, considerably down from a few hours ago. The price has climbed a bit, but the trading volume hasn't kept up, making this rise purely superficial; the momentum has already leaked, and the bulls have no strength to continue pushing!
The technical indicators are even more uninspiring. The MACD is aimlessly directionless like a headless fly, but the red bars keep appearing, albeit shorter and shorter, and the bulls' confidence is almost exhausted. The KDJ is even more extreme, shooting up to 100, ridiculously overbought, without even a golden cross or death cross, clearly indicating a need for correction.
Only the MA10 can still hold up the situation; at six o'clock in the morning, it was still pressing down on the MA30, which is the only good news. But with this bear situation, who dares to say it can stabilize? It could easily break through at any second!
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