GM☀️ Today is February 17th, here are my trading points and analysis for $ETH :
- Buy Point One: 2650 USDT (recent low support level, has tested multiple times without breaking)
- Buy Point Two: 2625 USDT (integer level support, close to previous swing low)
- Long Stop Loss Point: 2610 USDT (break below previous low, confirming trend weakness)
- Sell Point One: 2700 USDT (short-term resistance level, has encountered resistance and retreated multiple times)
- Sell Point Two: 2725 USDT (near previous high, with significant selling pressure)
- Short Stop Loss Point: 2740 USDT (break above previous high, could continue to rise)
【Price Trend Analysis】
1. Candlestick Pattern:
- Recently, the price has encountered resistance multiple times around 2700, forming a short-term resistance level.
- There is certain support around 2650, which has tested multiple times without effectively breaking.
2. Technical Indicators:
- MACD: Currently below the zero line, both DIF and DEA are negative, indicating strong bearish momentum, but the MACD histogram is shortening, showing signs of a potential reversal.
- RSI: Value is around 40, close to the oversold zone, indicating possible rebound demand.
- EMA: The 7-hour EMA is below the 30-hour and 120-hour EMA, indicating a weak short-term trend; however, the price is close to the 7-hour EMA, warranting attention to its support role.
3. Trading Volume:
- Trading volume has decreased in the last few hours, with the market exhibiting a cautious sentiment.
- On the daily level, after a significant drop in trading volume over the past two days, today's volume has clearly shrunk.
