📣Last week, Ethereum continued to decline. Will it recover this week❓

From the overall trend last week, Ethereum is in a state of decline, falling nearly 350 points over the week. The current trend has once again touched the previous low and rebounded, indicating that the support at 1750 is strong. This week, the focus is on the 1750 level; if it holds, the bullish outlook remains!

【Analysis of Ethereum Price Trend from the Four-Hour Chart】

K-line Pattern:

Recently, the K-line has shown consecutive bearish candles, with the price gradually falling from above 2000 to around 1800, displaying a clear downward trend. Between March 28 and March 31, there were long upper and lower shadows, indicating some market volatility and uncertainty.

Technical Indicators:

MACD: The current MACD is in the negative zone but shows signs of convergence, which may suggest a rebound or adjustment in the short term.

RSI: The RSI is hovering around 20, close to the oversold zone, hinting at a potential technical rebound.

EMA: EMA7, EMA30, and EMA120 are all tilting downwards, and the price is below these moving averages, confirming an overall downward trend.

Trading Volume:

In recent days, trading volume has decreased, pulling back from high levels, indicating reduced market participation. On March 28, trading volume significantly increased, corresponding with a sharp decline, indicating strong selling pressure at that time.

Evening of 3/31, Ethereum's stable profit layout:

It is recommended to enter long positions near 1800, target levels: 1840-1880.

If the trend adjusts, consider adding to long positions near 1770, with unchanged profit targets!

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