On the afternoon of October 9, 2024, Lao A studied and interpreted the "4-hour $ETH price trend analysis".
1. K-line pattern analysis
Recently, the price of ETH has fluctuated frequently in the range of 2430 to 2470, forming an obvious shock consolidation trend. In particular, a long upper shadow appeared on the K-line chart on October 7, indicating that there is great pressure above.
2. Interpretation of technical indicators
1. MACD indicator: The current values of DIF and DEA are both negative, and the MACD histogram is a green column, which indicates that the short-selling force is dominant in the short term, but this trend shows signs of shrinking.
2. RSI indicator: The value of RSI is close to the neutral area of 50, and there is no obvious overbought or oversold signal at present.
3. EMA index: The price is below EMA7, while EMA30 and EMA120 are above the current price, which shows that the price trend of ETH is weak in the short term, but there is still downward pressure in the medium and long term.
3. Volume observation
Recent volume has increased, especially on October 8 and 9, which indicates that the market activity has increased. At the same time, the phenomenon of volume increase is accompanied by a price correction, which may mean that the differences in opinions between long and short sides are intensifying.
4. Overview of ETH's 4-hour price trend
Overall, the price of ETH shows a sideways trend on the 4-hour chart.
5. Buying and selling point suggestions
1. Buying point 1: 2400 USDT. This price point is close to the previous low point, and the integer mark may form support, which is a buying position that can be considered.
2. Buying point 2: 2375 USDT. If the price further drops to this stronger support area and is close to the opening price of October 4, it is also a good buying opportunity. The stop loss point for long positions can be set at 2360 USDT to prevent the risk of a deep correction.
3. Selling point 1: 2475 USDT. This price point is close to the recent high point, and the integer mark may form pressure. Investors can consider selling at this position.
4. Selling point 2: 2500 USDT. If the price can break through this level and move upward, there will be a large upward space, but there may be significant selling pressure at the integer level. The stop loss point for short selling can be set at 2520 USDT to avoid a reversal of the trend.#ETH
