#ETH $ETH

Recently, after a rapid price increase, it has entered an adjustment phase. Although the bullish arrangement of the moving average system exists, the short-term moving averages are flattening or slightly declining, indicating a weakening of upward momentum. High levels have formed a stagnation pattern, and potential reversal patterns such as head and shoulders and descending triangles need to be closely monitored.

In the short term, the price shows downward pressure, especially as the EMA indicator suggests a likelihood of further testing support levels, combined with the BOLL indicator's oscillating downward trend and the MA indicator's short-term moving average pullback, the market may continue to face adjustments in the near future.

Technical Analysis

Candlestick Patterns: Head and Shoulders, Descending Triangle, Doji. Indicating possible trend reversal or decline.

EMA: The downtrend of EMA12 and EMA26 indicates bearish momentum in the short term, with the price near the pressure level of EMA60.

BOLL: The upper band is slowly moving down, consistent with the lower band indicating reduced volatility, as the price approaches or breaks through the middle line, showing a downward oscillating trend.

MA: The short-term moving averages (MA5 and MA15) are converging with the medium-term moving average (MA30), indicating increased short-term selling pressure, while being above the long-term moving averages (MA60 and MA90) shows a rising trend with short-term adjustments.

Pattern: The trend line triangle consolidation area has been broken down, and now it appears bearish from a pattern perspective.

Signal: The 4-hour signal is bullish, with a 4-hour support level around 2380.

Support: 2425, 2380

Resistance: 2520