【4-hour trend of $ETH 】
K-line pattern:
The 4-hour level has seen a large bullish candle break through the previous high of 4366, followed by a pullback to the EMA7 support area of 4350.
The daily line has closed with three consecutive bullish candles forming a "Red Three Soldiers" pattern, with the closing price firmly above the round number of 4200.
The 1-hour chart shows a long upper shadow near 4480, indicating pressure at the round number of 4500.
Technical indicators:
MACD: Both the 4-hour and daily levels maintain a golden cross, but the 4-hour MACD histogram is beginning to decrease in volume.
RSI: The daily RSI (14) has reached 76, entering the overbought zone, while the 1-hour RSI has retreated after testing the 70 area three times.
EMA: Prices remain above EMA7 (4363)/30 (4176)/120 (3817) in a bullish arrangement.
Volume:
When breaking through 4366, the 4-hour volume reached 310,000, a significant increase.
Currently, the volume during the pullback phase has shrunk to 46,000.
The daily level breakout was accompanied by a volume of 590,000, which is 1.5 times the 30-day average.
Range operation points:
Buy point one: 4400 (4-hour EMA7 support coinciding with round number support)
Buy point two: 4350 (previous high turning support coinciding with 30-period EMA)
Long stop-loss point: 4320 (breaking below the previous high of 4329 and falling below buy point two by 1%)
Sell point one: 4500 (daily level round number pressure and overbought RSI resonance)
Sell point two: 4550 (monthly EMA7 resistance and upper band of the upward channel)
Short stop-loss point: 4580 (technical stop-loss level formed after breaking the historical high of 4566)
Current recommendation: go long!
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