Trend Analysis After $ETH !!!
【Price Trend Analysis】
K-Line Pattern:
The 4-hour level shows a fluctuating upward structure, with the recent low of 3354 forming an ascending trendline support. The key resistance level is 3565 (previous high), and a breakthrough may test the 3600 round number. The daily EMA120 has turned into support (3521), with the long lower shadow on August 3 confirming buying strength.
Technical Indicators:
MACD: The 4-hour double line shows a low-level golden cross but has not crossed the zero line, and the daily histogram shows a contraction indicating weakening momentum. RSI: The 4-hour RSI at 48 is in neutral territory, while the 1-hour RSI at 63 shows short-term overbought conditions that need to correct; the daily RSI at 56 indicates bullish advantage. EMA: The 1-hour EMA7 (3546) and the 30-period moving average (3514) are in a bullish arrangement, and if the price stabilizes above them, there is potential for continued upward movement.
Trading Volume:
The breakout above 3500 was accompanied by a surge in volume to 75541, and the current reduction in volume during the pullback is a healthy correction. The daily level on August 1 saw a significant drop with a volume of 155908, and the recent rebound volume of 146293 shows cautious bullish follow-through.
【Buy and Sell Points】
Buy Point One: 3520 USDT (4-hour EMA30 support + round number support)
Buy Point Two: 3480 USDT (previous swing low of 3483.5 & daily EMA120 support)
Long Stop Loss Point: 3450 USDT (if it drops below the previous low of 3454.34, the trend weakens)
Sell Point One: 3580 USDT (4-hour previous high of 3565 + round number resistance zone)
Sell Point Two: 3620 USDT (daily EMA7 resistance at 3612 + round number)
Short Stop Loss Point: 3650 USDT (if it breaks above the previous high of 3675.85, the short position becomes invalid)
ETH's 4-hour Price Trend: Up
