ETH trend analysis conclusion: Bearish, rebound momentum is insufficient, continuing the downtrend pattern, will test the 3900 and 3800 round numbers again.

K-line pattern: A series of consecutive bearish candles appeared at the 1-hour level, forming a short-term descending channel, with the price quickly retreating from 4140 to 3994, indicating that bears dominated the daily level, resulting in a long lower shadow (lowest point of 3931 on October 28). However, the close was unable to surpass EMA7 (4003), forming a weak rebound pattern.
Technical Indicators: MACD: The 1-hour level DIF and DEA are below the zero axis forming a death cross. The daily MACD histogram has shrunk to 45.02 but has not formed a golden cross. RSI: The 1-hour level RSI14 is at 38.34 and has not reached the oversold zone, while the daily level RSI14 is at 47.25, indicating a neutral to weak bias. EMA: The price at the 1-hour level continues to be suppressed by EMA30 (4045), while the daily EMA7 (4003) and EMA30 (4078) are in a bearish arrangement.
Trading volume: Large volume during the 1-hour level crash (04:00 trading volume 68894), reduced volume during the rebound (18:00 only 6785), divergence in volume and price. On October 28, the daily level crash had a trading volume of 470,000, and the next day's rebound volume decreased to 100,000, with bearish momentum not fully released. #eth

ETH-0.48%

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