Is $ETH about to plummet or continue bottoming out? The 4H chart has sent a clear signal!
On May 14th, ETH just closed around 2259, showing a slight gain of 0.84%. However, a closer look at the candlestick reveals that the bulls are struggling. Since the drop from the 2463 high, the price has been trapped in a bearish channel, currently stuck below the middle band of the Bollinger Bands, with bearish momentum slowly unwinding, while trading volume remains calm—a typical sign of weak consolidation.
The current middle band of the Bollinger Bands is at 2293, the upper band at 2359, and the lower band at 2226, with the price running below the middle band and above the lower band. The MACD indicator maintains a death cross, with the histogram consistently negative. The RSI is hovering in the mid-low range of 41-43, neither oversold nor showing upward momentum. Overall, there is clear pressure above in the short term, with 2226 becoming the key support level.
Personally, I believe the price of ETH is likely to oscillate between 2226-2293, with a potential small rebound near the lower band, but the middle band will likely cap any rapid breakout. The probability of a sharp drop following a short-term rebound seems low.
Although the market is slightly sluggish right now, the opportunity to make some gains in USDT will come! Be patient and wait for the right moment, join the chat room, and I'll share the entry points later.
#比特币跌破79000美元
On May 14th, ETH just closed around 2259, showing a slight gain of 0.84%. However, a closer look at the candlestick reveals that the bulls are struggling. Since the drop from the 2463 high, the price has been trapped in a bearish channel, currently stuck below the middle band of the Bollinger Bands, with bearish momentum slowly unwinding, while trading volume remains calm—a typical sign of weak consolidation.
The current middle band of the Bollinger Bands is at 2293, the upper band at 2359, and the lower band at 2226, with the price running below the middle band and above the lower band. The MACD indicator maintains a death cross, with the histogram consistently negative. The RSI is hovering in the mid-low range of 41-43, neither oversold nor showing upward momentum. Overall, there is clear pressure above in the short term, with 2226 becoming the key support level.
Personally, I believe the price of ETH is likely to oscillate between 2226-2293, with a potential small rebound near the lower band, but the middle band will likely cap any rapid breakout. The probability of a sharp drop following a short-term rebound seems low.
Although the market is slightly sluggish right now, the opportunity to make some gains in USDT will come! Be patient and wait for the right moment, join the chat room, and I'll share the entry points later.
#比特币跌破79000美元