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Interpret the ETH trend with a 1-hour Candlestick period.
Price Trend Analysis
1.Candlestick Patterns:
The 1-hour level EMA7, 30, and 120 are in a bullish arrangement, with the price moving upward along the EMA7, indicating a typical uptrend.
The daily EMA7 has crossed above EMA30, forming a bullish arrangement, and the price has broken through the previous key resistance level of 4000.
Recently, there has been a large bullish candle with significant volume (from October 26, 18:00 to October 27, 06:00, an increase of over 80 points and a trading volume of 52356), indicating strong buying pressure.
2. Technical Indicators:
MACD: The DIF and DEA lines are both moving upward on the 1-hour level, the MACD histogram continues to expand, and after the MACD golden cross on the daily level, the histogram has turned from negative to positive, indicating a continuation of the trend.
RSI: The 1-hour RSI14 has broken through 85 and entered the overbought zone, while the daily RSI14 has risen from 45 to 55, indicating increased momentum.
EMA: The price at the 1-hour level remains above EMA7 (4192.5), and the gap between EMA7 and EMA30 is widening; on the daily chart, EMA7 (4042.9) crosses above EMA30 (4098.2), indicating a strengthening mid-term trend.
3. Trading Volume:
During the key breakthrough period (October 26, 19:00-20:00), the trading volume reached 34,441, along with a price increase of 61 points, confirming its validity.
The current 1-hour trading volume (24068) is higher than the recent average, but there has been no extreme surge in volume, indicating that the trend may be sustainable.
[Buy and Sell Points]
Buy point 1: 4200 USDT (integer level support, EMA7 moving up to around 4192 provides dynamic support)
Buy point two: 4150 USDT (previous segment low point 4148 and strong support level EMA30 at 4086, enter after a 1% pullback)
Long stop loss point: 4130 USDT (stop loss 2 USDT below the critical low point of 4148, ensure to exit after the technical structure is broken)
Sell Point 1: 4250 USDT (integer resistance, possible pullback after first test following RSI overbought)
Sell Point 2: 4300 USDT (Move up to a higher resistance zone, with a distance of 1.2% from 4250, in line with the logic of taking profits in batches at high positions)
Short stop loss point: 4320 USDT (stop loss after breaking the previous high of 4253 and creating a new high)