Based on market data provided by CoinAnk
Current Price: 3477.23 USDT
24-hour Change: -4.924%
Main Support Level: 3296.83 USDT
Main Resistance Level: 3808.78 USDT
Current Trend: Oscillating bearish
Technical Indicators Summary:
Moving Average System: The current price is below MA5 (3654.00) and MA10 (3710.79), but above MA20 (3606.64) and MA120 (2494.63). Short-term moving averages are in a bearish arrangement, but medium to long-term moving averages are still in a bullish arrangement, indicating significant short-term pullback pressure, but the medium to long-term trend has not been completely destroyed.
MACD: DIF (194.79) is below DEA (253.28), and the histogram is negative (-58.49), indicating a death cross state, with short-term momentum bearish.
BOLL: Price is below the middle band (3606.64) and close to the lower band (3165.03), %B value is 0.36%, indicating that the price is in a weak range but has not reached the oversold area.
RSI: RSI6 (30.02) is close to the oversold area, RSI12 (50.70) and RSI14 (53.77) are neutral but slightly weak, RSI24 (59.82) is still in the neutral range, with short-term potential for an oversold rebound.
KDJ: K (34.32) and D (53.75) form a death cross, and the J value is 0, indicating short-term oversold, but the trend is still bearish.
Indicator Data:
Funding Rate: 0.00162900%, long-short sentiment is not obvious, not reaching extreme values, providing limited directional guidance.
Volume Change: 24-hour trading volume 8019574.506, recent trading volume has increased during price declines, indicating heavy selling pressure. K-line data shows recent price declines accompanied by increased trading volume, with a bearish price-volume relationship.
Capital Flow Data: Significant net outflow of contract funds (24H net outflow 3710621641.80 USDT), spot funds are also continuously net outflowing (24H net outflow 318528069.72 USDT), indicating a strong willingness for market capital withdrawal, with a strong bearish sentiment in the short term.
Analysis Result
Direction: Cautiously short
Entry Timing: If the price rebounds to the range of 3600-3650 USDT (near MA5 and MA10) and shows signs of stagnation (such as long upper shadows or shrinking trading volume), consider entering short.
Stop Loss Setting: The stop loss is set at 3750 USDT (approximately 3.5% stop loss space) to avoid trend reversal after breaking the MA10.
Target Price: First target price 3296.83 USDT (Support level S1), second target price 3106.87 USDT (Support level S2), potential return 5%-10%.
