#ETH Based on the ETH/USDT 4-hour chart

1. Price and candle pattern:

ETH just reached a peak at 2,608 USDT, then slightly corrected down to 2,545 USDT.

The candle after the peak has a long upper wick, indicating selling pressure.

There is a signal "S" (short) at the peaks of 2,608 and 2,545, suggesting that a short position has been activated.

2. RSI indicator:

RSI(6) is at 77.71, lying in the overbought zone. This is often a warning signal for a reversal or short-term price correction.

3. MACD indicator:

The MACD line (gold) is above the signal line (pink), but has started to converge, indicating that the upward momentum is weakening.

The histogram is positive but is gradually decreasing, which is also a sign of weakening.

4. Trading volume:

The volume is trending downward while the price is peaking => a sign of negative divergence between price and volume, supporting the short position.

Short position assessment:

Ideally, if you entered a short around 2,600 – 2,608.

Near target: 2,462 USDT (nearest support).

Deeper target: 2,300 USDT or lower if the market corrects sharply.

Reasonable stop-loss: Above 2,620 USDT (exceeding the old peak).