$ETH price trend

From the candlestick pattern, the price of Ethereum has continuously retreated from a high of 4824.87, currently around 4476.80, showing a significant downtrend, with bearish forces dominating the market.

Moving Averages (EMA and MA)

The chart shows EMA24 (4,644.36), EMA48 (4,672.20), EMA96 (4,629.56), EMA192 (4,539.97), as well as MA30 (4,697.13), MA60 (4,726.06), MA120 (4,577.07).

The price is below these moving averages, and the short-term moving averages are crossing below the long-term moving averages, forming a bearish arrangement, indicating that the short-term market trend is downward, with the upper moving averages forming strong resistance against the price.

Trading Volume (VOL)

During the price decline, the trading volume has generally increased, especially at key declining points, indicating active trading in the market during the decline, with strong selling pressure.

Relative Strength Index (RSI)

RSI1 is 19.70, RSI2 is 28.44, RSI3 is 36.11, all in the oversold area below 30, indicating that the market is currently in a severe oversold state, with excessive bearish forces released, and there is a certain demand for rebound.

KDJ indicator

In the KDJ indicator, the K value is 34.78, the D value is 42.92, the K line is below the D line, and the values are at relatively low levels, showing that the market is in a weak position in the short term, but the K value shows signs of rising, suggesting potential rebound momentum in the short term.

Bollinger Bands (BOLL)

The BOLL20 indicator shows that the middle line is 4,635.69, the upper line is 4,775.56, and the lower line is 4,495.82. The current price is close to the lower line of the Bollinger Bands, indicating that the market is in an extremely weak state. If the price breaks below the lower line, it may trigger further panic selling; if it stabilizes at the current position, the lower line of the Bollinger Bands may provide some support.

MACD indicator

In the MACD indicator, the DIF value is -27.84, the DEA value is -8.23, and the MACD value is -39.22, with the histogram below the zero axis and relatively long, indicating that the current market has strong bearish forces; however, it should be noted that the MACD histogram shows a trend of shortening, meaning that the bearish forces may be gradually weakening.

Overall, Ethereum is clearly in a downtrend in the short term, with bearish forces dominating the market and the price having entered the oversold area. Although several indicators show a certain demand for rebounds, the overall trend still leans downward until the price effectively breaks through the resistance of the upper moving averages. Future attention should focus on whether the price can stabilize and rebound, as well as changes in trading volume and other indicators to determine if the market trend is reversing. At the same time, the cryptocurrency market is influenced by various factors such as news and macroeconomic conditions, leading to significant volatility, so investors need to make cautious decisions.