The image shows the price chart of ETH against USDT in the Binance app, and it appears that the overall trend has been down lately, evidenced by:
The price dropped by -7.05% to reach $1462.66.
The highest price in 24 hours was $1586.76 and the lowest price was $1385.05, indicating that the price is closer to the minimum.
From the chart, the overall trend of the candles on the left side was a clear drop from the level of 1593.47.
The MACD indicator at the bottom shows a negative crossover, as the yellow line is below the purple, indicating selling pressure.
Overall, the market is currently in a downward trend, but there is an attempt to rebound in the last few hours.
1. Current price:
1462.66 USDT
Percentage change: -7.05% (significant drop over 24 hours)
2. 24-hour data:
Highest price: 1586.76
Lowest price: 1385.05
Volume:
ETH: 1.45 million
USDT: 2.12 billion
3. Trend on the chart:
At first, there is a clear drop from the price of 1593.47 to 1385.05.
After that, there is a rebound and a gradual return towards approximately 1460, but the losses have not been compensated.
4. Technical analysis indicators:
MACD (Moving Average Convergence Divergence):
DIF (yellow): -2.32
DEA (purple): -0.12
MACD (blue): -2.20
Analysis: When DIF is below DEA, this is a negative signal, indicating selling pressure. The values are also negative, confirming the downward trend.
Candlestick:
Most of the candles on the left are red (indicating a drop).
There are some green candles on the right side (attempt to rise).
Trading volumes:
There is a sudden increase in volumes at some points, which may indicate the entry of speculators or large buy/sell transactions.
Summary:
The overall trend is currently downward, and there are attempts to rebound, but there are no confirmed signals of a trend reversal. If you are thinking of buying, it is better to wait for confirmation from the market (e.g., a breakout above a resistance level + improvement in MACD).
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