📣 The trend continues to weaken, don't easily go long on Ethereum tonight!

After a series of ups and downs, the trend remains relatively weak. Tonight, influenced by the high opening and low closing of the US stock market, the trend has once again declined, and the rebound signs are also weak. The future movements will depend on how the US stock market opens.

【Analysis of Ethereum price trend from the 4-hour chart】

Candlestick pattern:

Recently, the candlestick pattern has shown a clear downward trend, especially since the significant pullback starting from April 6. In the 4-hour timeframe, the price has shown multiple long upper shadows at high levels, indicating strong selling pressure.

Technical indicators:

MACD: The current MACD is in the negative zone, and the fast and slow lines are continuing to diverge downwards, indicating that the market is still in a bearish trend.

RSI: The RSI value is close to the oversold area but has not yet entered an extreme oversold state, which may indicate a short-term rebound demand.

EMA: The EMA7, EMA30, and EMA120 moving averages are in a bearish arrangement, with the price hovering near the EMA7, showing short-term pressure.

Trading volume:

The daily trading volume gradually decreased after peaking on April 7, indicating that market participants are hesitant about the current price level. The trading volume in the 4-hour timeframe fluctuates greatly, with increased volume during decline followed by reduced volume in consolidation, suggesting unstable market sentiment.

Evening Ethereum steady profit layout on 4/9:

It is advised to enter short positions around 1460-1480 for Ethereum, target points: 1420-1400-1380-1350.

If the trend continues to rebound, you can add to your short position around 1500, with target points unchanged!

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