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Interpret the ETH trend with a 1-hour Candlestick cycle.
[Price Trend Analysis]
1.Candlestick Patterns: 1-hour Level: Recently, the price has been fluctuating in the 3950-3900 range, forming a short-term double top pattern (3960/3956), with the current price retreating to around 3940 to test support. A long lower shadow appeared at 22:00 yesterday (3891-3902), indicating strong buying interest at the 3900 integer level. Daily Level: On October 24, a medium bullish candlestick with a long upper shadow was formed (high of 4026), and it failed to break through the next day, creating short-term resistance. Since October 20, EMA7 has continuously suppressed the price, showing a downward channel.
2. Technical Indicators: MACD: The 1-hour level DIF and DEA are close to the zero axis (8/7), and the histogram has turned red but lacks volume. The daily level maintains a death cross (-108/-105), but the shortening of the green bars indicates a weakening of the downward momentum. RSI: The 1-hour level at 56 is in the neutral zone and shows no divergence. The daily level at 45 remains in a weak zone, needing to break above 50 to confirm a strength reversal. EMA: The price at the 1-hour level is stable above EMA30 (3925), and EMA7 (3938) is about to cross above EMA30. At the daily level, EMA120 (3873) provides long-term support, but EMA7 (3918) and EMA30 (4083) are in a bearish arrangement.
3. Trading Volume: 1-hour level: Volume shrinks during rebound (e.g., 16:00 6728 → 18:00 4306), and volume increases during decline (e.g., 17:00 6942) indicates selling pressure. Daily level: On October 24, the volume surged to 238,000 coins testing 4026 before falling back, and on the 25th, the volume sharply decreased to 70,000 coins, indicating a strong wait-and-see sentiment among funds.
Buy and sell price points
Buy point 1: 3920 USDT (previous low support level, resonance of EMA30 and integer level, potential area of hourly chart MACD bottom divergence)
Buy point two: 3900 USDT (daily EMA120 strong support + previous low of 3891, dense buying zone after a sharp drop) Long stop-loss point: 3880 USDT (break below daily EMA120 and previous low of 3866, signal of trend weakening)
Sell point 1: 3960 USDT (double top neckline resistance + round number, 1-hour EMA120 suppression level)
Sell Point 2: 3980 USDT (daily EMA7 dynamic resistance + previous high 4026 Fibonacci 38.2% retracement) Short Stop Loss Point: 4000 USDT (breakthrough of the integer level and daily EMA30, bearish structure invalidated)