ETH 4-hour K-line technical analysis: Bulls are losing strength, these price levels require attention

GasWrangler · 2026-01-23T02:20:14+00:00

Recently, ETH's price movement has shown signs of weakening bullish momentum, with a pullback in price and shrinking trading volume, indicating a decline in market participation. Technical indicators have not issued significant trend signals. Key levels are 2939.88 and 2855.0 as buying zones, with 2855.0 serving as support and 3202.0 as resistance. Trading should be approached with caution.

GasWrangler

2026-01-23 02:20:14

Abstract generation in progress

【CryptoWorld】Looking at the ETH recent 4-hour candlestick chart, there are several phenomena worth noting.

From the price performance, compared to 12 o’clock the day before yesterday, there has indeed been a significant increase, but it retreated a bit in the last two hours. The final candlestick is a bearish one, closing below the opening price, indicating that the bullish momentum is weakening overall.

Trading volume is also worth paying attention to—recent hours have seen a clear decrease in trading volume, less than in the previous hours. When both price and volume decline simultaneously, it often signifies a decrease in market participation and trading activity.

On the technical side, the MACD histogram remains positive but is gradually shortening, indicating that the bullish strength is gradually waning, with no clear trend direction visible. The KDJ indicator currently shows no golden cross or death cross, remaining at a neutral-weak level of 60, which indeed suggests a potential downtrend.

Based on these data, several key levels can be referenced: if bullish, 2939.88 and 2855.0 are two potential buy zones, with stop-losses set at 2925.18. On the upside, 3346.56 and 3202.0 are the first and second sell points, with a short stop-loss at 3363.29. The current support level is at 2855.0, and resistance is at 3202.0.

Overall, this range is a period of indecision between bulls and bears, and trading should proceed cautiously, confirming with subsequent volume and price movements.

ETH6.69%

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AirdropDreamBreaker

· 01-25 09:39

Here we go again. This bullish wave really isn't strong, trading volume is still shrinking, and it feels like it might drop further.

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LiquidityWitch

· 01-24 11:28

volume's drying up while macd bars shrink... classic liquidity sacrifice pattern brewing here. the market's literally whispering its hesitation thru those wicks ngl

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WalletAnxietyPatient

· 01-24 00:07

Here we go again, the shrinking volume and momentum—bulls have long lost strength. Just wait for the death cross.

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TokenDustCollector

· 01-23 02:50

Another moment of a bullish dream shattering. With such obvious volume contraction, still trying to pump the market—dream on.

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SnapshotLaborer

· 01-23 02:50

Sigh, it's starting to weaken again... With such poor trading volume, how can there be any market movement?

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LiquidationHunter

· 01-23 02:49

It's the same old trick of shrinking volume again. The bulls really can't hold on anymore... Even the MACD is starting to back down. Looks like we might consolidate for a while this time.

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GasBankrupter

· 01-23 02:47

Here comes the technical analysis of cutting leeks again. The bulls are exhausted, isn't that a sign of a decline? Why does it still feel like there's hesitation in this wave?

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AirdropFreedom

· 01-23 02:27

Oh my, another sluggish upward trend. It's making me sleepy.

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GasFeeSobber

· 01-23 02:26

It's the same story again. When trading volume shrinks, it means no one wants it. It should have dropped earlier...

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ZKSherlock

· 01-23 02:22

actually... the volume collapse here is the real tell, not just the macd histogram thinning out. you're seeing what we'd call a loss of information theoretic confidence in the market direction—fewer participants = less cryptographic commitment to either side, if that makes sense? kinda sus when price and volume move together like that ngl

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