$ETH


Market psychology analysis
Recent news suggests neutral market sentiment, with potential for a short-term recovery, but the market remains bearish.
Ethereum whales are reportedly selling or reallocating their holdings, which could indicate a lack of confidence in the price going up.
The market is showing signs of accumulation, suggesting there will be a period of stability before any major price movements.

Technical analysis
The current RSI is 45.27, indicating neutral to slightly oversold conditions, suggesting that the price has potential to recover.
The current price is close to the lower line of the Bollinger Bands at $2328.57, which could indicate a potential support level.
The MACD histogram is negative, indicating bearish momentum, but the gap is narrowing, which could indicate a potential reversal.
DMI shows weak trend, ADX is 19.77, -DI is slightly higher than +DI, indicating bearish pressure.
The KDJ index shows a low J value, indicating potential for an upward correction.
The order book shows a significant sell wall at $2326.80, which could act as resistance.

💡 Trading strategies and recommendations
If price holds above the lower line of Bollinger Bands and shows signs of reversal, consider a short-term buy position.
Watch for a breakout above the $2326.80 resistance to confirm bullish momentum.
Place stop loss slightly below the $2317.87 support level to manage risk.
The profit target can be placed near the Bollinger Bands average of $2348.20, which is in line with the pivot point.

Technical analysis based on 1 hour candlestick chart indicator, users who like short-term trading can refer to it.

Once again, the market is volatile at present, please take profit and stop loss, the analysis is for reference only.