🕯️ 4H Candle of the Period – ETHUSDT
🔍 Key Data:
• Open: $3,571.65
• Close: $3,612.00
• High: $3,624.56
• Low: $3,546.00
• Change: +1.13% (moderate rise)
• Range: 2.20%
• Volume: 45,367 ETH
• Candle Type: Inverted hammer / potential rejection candle (prominent lower shadow)
📊 Structural Technical Analysis
🔸 Candle Structure:
• Long lower wick with a close near the high
• Appears after several red candles, touching the lower Bollinger Band and dynamic support at the 25-period MA (pink)
• First green candle after a drop, but body doesn’t break the previous candle’s high, suggesting a technical bounce, not a trend reversal
🔸 Bollinger Bands:
• Price touched the lower Bollinger Band ($3,546) and bounced toward the mid-band, indicating temporary rejection of bearish pressure
🔸 RSI:
• RSI(6): 52.16 → Neutral with a slight upward slope
• RSI(24): 49.58 → Still below 50 → no strong trend, but momentum attempting to recover
🔸 MACD:
• MACD: 10.93 → Still positive but losing strength
• Possible histogram shift → beginning of consolidation phase after the previous bearish move
🔸 Volume:
• Volume above average, showing real market participation in this candle
• Possible institutional support at the key level of $3,546
🌎 International Session Flow
🕒 Late U.S. session → transition to Asia:
• Final moves of the U.S. session
• High activity during this window → strong volume for the hour
• Confirmed rejection at $3,546 with absorption of selling pressure
• Start of the August 6th Asian session
• Asia came in buying, but with structural weakness → failed to break prior resistance at $3,624
🧠 Intuitive Market Insight + Deduction
“The market reacted to a strong technical zone with a rejection candle, but it remains within a broader bearish structure. This bounce is defensive, not offensive.”
• The 4H structure has not been broken to the upside
• RSI and MACD reflect a weak technical bounce, not a trend reversal
• The candle close suggests a temporary slowdown of bearish momentum, not