Daily chart: Long lower shadow at 3081, showing strong buying support below 3100.
4-hour chart: Descending channel forming; current price nearing the lower boundary of the channel.
Technical Indicators:
MACD: Bullish crossover on the 1-hour chart, but still below zero; daily chart shows a persistent death cross.
RSI: 1-hour RSI(14) ~45, not yet oversold.
EMA: Price remains below EMA30 (3125) and EMA7 (3114), forming a death cross.
Volume Analysis:
Sharp drop at 09:00 saw volume spike to 30,533 but quickly faded.
Recent rebound shows weak volume (~4,000), indicating insufficient momentum to sustain a rally.
Summary: ETH is testing key support levels near 3080–3100. Short-term rebounds may occur, but momentum is weak, and resistance at 3125–3130 remains strong. Traders should watch for a confirmed breakout or breakdown before entering positions.
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#ETH Technical Analysis 🟢
K-Line Patterns:
Daily chart: Long lower shadow at 3081, showing strong buying support below 3100.
4-hour chart: Descending channel forming; current price nearing the lower boundary of the channel.
Technical Indicators:
MACD: Bullish crossover on the 1-hour chart, but still below zero; daily chart shows a persistent death cross.
RSI: 1-hour RSI(14) ~45, not yet oversold.
EMA: Price remains below EMA30 (3125) and EMA7 (3114), forming a death cross.
Volume Analysis:
Sharp drop at 09:00 saw volume spike to 30,533 but quickly faded.
Recent rebound shows weak volume (~4,000), indicating insufficient momentum to sustain a rally.
Summary:
ETH is testing key support levels near 3080–3100. Short-term rebounds may occur, but momentum is weak, and resistance at 3125–3130 remains strong. Traders should watch for a confirmed breakout or breakdown before entering positions.