$ETH #technicalanalyst

Chart Timeframe: 4H (4-hour candles)

1. Price Action & Candlestick Pattern

• Current Price: $1,576.60

• 24H High: $1,631.81, Low: $1,565.59

• The recent red candle shows strong selling, closing near the day’s low — indicating bearish pressure.

2. Moving Averages (EMA)

• EMA(7): 1,591.36

• EMA(25): 1,595.33

• EMA(99): 1,644.72

Price is below all major EMAs, which confirms a downtrend in both short- and mid-term.

3. MACD (Momentum Indicator)

• MACD Line (DIF): -1.64

• Signal Line (DEA): -0.26

• Histogram: -1.38

MACD is deeply negative, showing strong bearish momentum, and the histogram just flipped down again — potential for further decline.

4. RSI (Relative Strength Index)

• RSI(6): 30.74 (very close to oversold)

• RSI(12): 40.49

• RSI(24): 45.58

Short-term RSI is nearing oversold territory — could hint at a relief bounce, but overall trend is weak.

5. Volume

• Recent candle with increased red volume, aligning with the drop — strong seller conviction.

• MA(5) and MA(10) on volume indicate higher recent average volume.

6. Support/Resistance

• Support: $1,538.07 (recent low)

• Resistance: $1,602–$1,631 (previous highs and EMA resistance).