Interpretation of ETH Trend Using 1-Hour Candlestick Period
[Price Trend Analysis]
1. Candlestick Patterns:
On the daily timeframe, consecutive bearish candles have driven the price from 3900 down to 2716, exhibiting a one-sided downtrend. The most recent daily candle closed with a long lower shadow, indicating buy-side support near 2700.
The hourly chart has repeatedly tested the key 2700 level without breaking it, forming a double bottom prototype. At 21:00, a doji candle appeared, showing intensified battle between bulls and bears.
2. Technical Indicators:
MACD: On the daily chart, DIF(-263) is accelerating downward below the zero axis, but the hourly MACD histogram has turned from negative to positive (1.27), signaling a bullish divergence.
RSI: The daily RSI(26.76) has entered the oversold zone, while the hourly RSI(42) rebounded from 30 but has not yet broken above the 50 midpoint.
EMA: The price is suppressed by all EMAs (7-day EMA 2727 > 30-day 2759 > 120-day 2916), showing a standard bearish alignment. The current price of 2716 is just 10 points away from the 7-day EMA.
3. Trading Volume:
The daily downtrend is accompanied by increased volume (289K on November 22), with a huge sell-off of 97K occurring at 04:00.
In the past three hours, volume has shrunk to below 10K, indicating strong market hesitation. The 19:00 rebound saw a volume spike to 47K but failed to sustain.
[Buy/Sell Levels]
Buy Entry 1: 2700 USDT (key psychological support, previous low at 2703.22 forming a double bottom structure)
Buy Entry 2: 2680 USDT (if 2700 breaks, test support near the November 21 low of 2673.21)
Long Stop Loss: 2665 USDT (below the previous low of 2673, allowing a 15-point buffer)
Sell Entry 1: 2740 USDT (EMA7 resistance at 2727 and previous hourly high at 2734.35)
Sell Entry 2: 2760 USDT (strong daily EMA30 resistance at 2759, combined with the sell zone below 2800)
Short Stop Loss: 2780 USDT (if 2760 is broken, must hold above the November 22 high of 2782.76 to confirm trend reversal)
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Interpretation of ETH Trend Using 1-Hour Candlestick Period
[Price Trend Analysis]
1. Candlestick Patterns:
On the daily timeframe, consecutive bearish candles have driven the price from 3900 down to 2716, exhibiting a one-sided downtrend. The most recent daily candle closed with a long lower shadow, indicating buy-side support near 2700.
The hourly chart has repeatedly tested the key 2700 level without breaking it, forming a double bottom prototype. At 21:00, a doji candle appeared, showing intensified battle between bulls and bears.
2. Technical Indicators:
MACD: On the daily chart, DIF(-263) is accelerating downward below the zero axis, but the hourly MACD histogram has turned from negative to positive (1.27), signaling a bullish divergence.
RSI: The daily RSI(26.76) has entered the oversold zone, while the hourly RSI(42) rebounded from 30 but has not yet broken above the 50 midpoint.
EMA: The price is suppressed by all EMAs (7-day EMA 2727 > 30-day 2759 > 120-day 2916), showing a standard bearish alignment. The current price of 2716 is just 10 points away from the 7-day EMA.
3. Trading Volume:
The daily downtrend is accompanied by increased volume (289K on November 22), with a huge sell-off of 97K occurring at 04:00.
In the past three hours, volume has shrunk to below 10K, indicating strong market hesitation. The 19:00 rebound saw a volume spike to 47K but failed to sustain.
[Buy/Sell Levels]
Buy Entry 1: 2700 USDT (key psychological support, previous low at 2703.22 forming a double bottom structure)
Buy Entry 2: 2680 USDT (if 2700 breaks, test support near the November 21 low of 2673.21)
Long Stop Loss: 2665 USDT (below the previous low of 2673, allowing a 15-point buffer)
Sell Entry 1: 2740 USDT (EMA7 resistance at 2727 and previous hourly high at 2734.35)
Sell Entry 2: 2760 USDT (strong daily EMA30 resistance at 2759, combined with the sell zone below 2800)
Short Stop Loss: 2780 USDT (if 2760 is broken, must hold above the November 22 high of 2782.76 to confirm trend reversal)
ETH 1-hour price trend: sideways