$ETH Price Trend

The candlestick chart shows that Ethereum's price has continuously declined from a high of 4775.58, reaching a low of 4333.34. The current price fluctuates around 4355.02, showing a clear downward trend, with bearish forces dominating in the short term.

Moving Averages (EMA and MA)

The chart includes EMA24 (4,546.54), EMA48 (4,612.73), EMA96 (4,602.42), EMA192 (4,530.57), as well as MA30 (4,614.38), MA60 (4,695.77), MA120 (4,577.47).

The current price is far below these moving averages, and the short-term moving average is crossing below the long-term moving average, forming a typical bearish arrangement, indicating that the market is in a strong downtrend, with the upper moving averages acting as strong resistance to price.

Trading Volume (VOL)

During the significant price drop, trading volume increased, especially during the rapid decline phase, indicating a large volume of sell orders flooding the market, resulting in high trading activity and strong market panic. However, near the current price, trading volume has shrunk, showing a decline in trading enthusiasm at this price level.

Relative Strength Index (RSI)

RSI1 is 22.05, RSI2 is 26.13, RSI3 is 32.66, all in the oversold zone below 30, indicating that the market is currently in a severe oversold state, with bearish forces excessively released, theoretically suggesting a certain demand for a rebound.

KDJ Indicator

In the KDJ indicator, the K value is 11.83, the D value is 13.34, with both the K line and D line at relatively low positions, and the K line below the D line, indicating that the market is in an extremely weak pattern in the short term. However, the K value shows signs of turning upward, suggesting that there may be a certain rebound momentum in the short term.

Bollinger Bands (BOLL)

The BOLL20 indicator shows that the middle band is 4,542.13, the upper band is 4,771.98, and the lower band is 4,312.29. The current price is close to the lower band of the Bollinger Bands, indicating that the market is in an extremely weak state. If the price breaks below the lower band, it may trigger further declines; if it can stabilize at this position, the lower band may provide some support for the price.

MACD Indicator

In the MACD indicator, the DIF value is -66.19, the DEA value is -35.52, and the MACD value is -61.34. The histogram is below the zero axis and is relatively long, indicating that the current market bearish forces are very strong. However, there is a trend of shortening in the MACD histogram, suggesting that bearish forces may be gradually weakening.

Overall, Ethereum is in a strong downtrend in the short term, with bearish forces dominating. However, the market has entered a severely oversold state, and some indicators show signs of weakening bearish strength, indicating a certain demand for a rebound. Future attention should focus on whether the price can stabilize and rebound effectively, as well as changes in trading volume and other indicators to determine whether the market trend will reverse. Additionally, the cryptocurrency market is influenced by various factors such as the macro economy, policy news, and market sentiment, making the trend highly uncertain. Investors need to consider carefully and manage risks appropriately when making decisions.