Interpretation of ETH Trend Using 1-Hour Candlestick Chart

[Price Trend Analysis]

1. Candlestick Pattern:

The current price is fluctuating in the 3055.61 to 3063.02 range, with a noticeable upper shadow, indicating short-term selling pressure.

The previous swing high (3067.21) has become the current resistance level and has not been effectively broken recently, suggesting that bullish momentum is weakening.

2. Technical Indicators:

MACD is in the negative region, with both DIF and DEA showing a downward trend, reflecting short-term bearish dominance.

RSI is at 70.24, already in the overbought zone, which may trigger a pullback signal. However, if it remains at this level, it can be regarded as a strong trend.

EMA7 is near 3053.34, providing some support, while EMA30 (2985.27) and EMA120 (2943.45) offer longer-term support.

3. Volume:

The most recent hourly trading volume is 1698, which is significantly lower compared to previous hours, indicating decreased market activity.

Larger volumes in previous hours (e.g., 11:00 8750, 10:00 19623, etc.) were accompanied by price declines, suggesting strong selling pressure.

[Buy/Sell Levels]

Buy Point 1: 3035 USDT (Near the key support level at 3029.59, with substantial rebound potential and some support from EMA lines.)

Buy Point 2: 3000 USDT (A dip to this round number may trigger buying; lower than Buy Point 1 to ensure tiered profits while maintaining reasonable risk control.)

Long Stop-Loss Point: 2995 USDT (Set 5 points below Buy Point 2 to guard against unexpected moves and reduce loss risk.)

Sell Point 1: 3065 USDT (Set near the previous high at 3067.21; consider taking partial profits here to mitigate future reversal risk.)

Sell Point 2: 3080 USDT (Continue to monitor market momentum; if a strong breakout occurs, raise the sell price further for greater profit potential.)

Short Stop-Loss Point: 3090 USDT (Set 10 points above Sell Point 2 to protect against greater losses from rapid short-term pullbacks.)

ETH 1-hour price trend: Down