#ETH
4-hour Cycle Price Trend: Consolidation
1. Overall Analysis
Recent prices have shown a general downward trend, currently around 1552.85.
In the short term, although the MA7 has formed a 'golden cross' with the MA30, indicating a potential rebound, the overall trading volume is insufficient to support the strength of the rebound. Furthermore, the bearish engulfing pattern following the three white soldiers reflects a weakening of bullish momentum. Coupled with cautious market sentiment and trading volume, the rebound strength may be limited.
Suggestion: Given that the market is still in a relatively weak trend and the rebound lacks significant trading volume support, it is suggested to remain on the sidelines. If the price breaks through the resistance level of 1560 or if a clearer rebound signal appears, consider short-term testing of long positions; however, if the price breaks down below the support level of 1500, one should be wary of the risk of further downward movement in the market and take profits appropriately.
2. Technical Analysis
Candlestick Pattern: Downward trend, bearish engulfing after three white soldiers, doji indicates a potential change in trend.
MA: Short-term MA (7) golden crosses long-term MA (30), indicating short-term rebound signs, overall trend is weak.
Volume: Low trading volume, cautious market sentiment, insufficient support for rebound.
3. Potential Buy/Sell Points
Buy Point: 1500 USDT (close to recent consolidation bottom, may form support)
Long Stop Loss Point: 1380 USDT (if it falls below the important low of 1384, may confirm downward trend)
Sell Point: 1560 USDT (close to MA7 resistance level, may create short-term selling pressure)
Short Stop Loss Point: 1600 USDT (if it breaks 1600, indicates that the short-term rebound may continue)
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