$ETH 【Ethereum Trend Analysis】
K-line Pattern:
1-hour Level: Recently formed a descending channel, with the price rapidly dropping from around 2680 to a low of 2515, followed by a weak rebound, with highs gradually moving down (2587→2563→2555), and lows testing the 2515 support.
Daily Level: A long bearish candle appeared on May 23 (2671→2526), accompanied by massive selling pressure. The next day, the rebound was weak, forming a “bearish engulfing” pattern, with short-term bearish dominance.
Technical Indicators:
MACD:
1-hour Level DIF and DEA spread after a death cross below the zero line; the MACD histogram shrank from -32 to 6.34, indicating weakening bearish momentum but not yet reversing.
Daily Level MACD formed a death cross at a high position (172→181), with the histogram turning negative, signaling mid-term adjustment.
RSI:
1-hour Level RSI (43.46) is in a neutral-to-weak area, not entering oversold territory, reflecting the weakness of the rebound.
Daily Level RSI fell from 73.57 to 62.79, exiting overbought but still not bottoming out.
EMA:
1-hour Level price is pressured by EMA7 (2547) and EMA30 (2575), showing a bearish arrangement.
Daily Level EMA7 (2548) crossed below EMA30 (2291), with the 120-day moving average (2567) being key support.
Trading Volume:
Crash with volume: During the crash from 19:00-20:00 on May 23, trading volume surged (110,000→140,000 ETH), with concentrated selling pressure released.
Rebound with reduced volume: Recent rebounds (e.g., 10:00-12:00 on May 24) saw trading volume only at 7460-13086 ETH, lacking follow-up buying.
(Note: Key integer levels for reference — resistance 2580/2600, support 2515/2500; previous low 2515 is the boundary between bulls and bears)
