Interpreting ETH Price Movement Using 1-Hour K-Line Chart

【Price Trend Analysis】

1. K-Line Pattern:

The 1-hour chart shows consecutive bearish candles breaking below the 2950 integer support level, forming a short-term downtrend channel.

On the daily chart, a long upper shadow tested 3045 before quickly retreating, indicating heavy selling pressure above 3000.

2. Technical Indicators:
MACD: The dual lines on the 1-hour chart remain below the zero line and diverge, with the histogram expanding to -40.46 on the daily chart, showing strong bearish momentum.

RSI: The 1-hour RSI is at 33.43, approaching oversold territory but not diverging; the daily RSI is at 42.74, in a neutral to weak zone.

EMA: The price continuously breaks below the 7/30/120 EMAs, with EMA7 (2944) on the 1-hour chart acting as a dynamic resistance.

3. Volume:
Volume increased to 150,000 during the break below 2950, confirming the validity of the breakout.

During the rebound near 2945, volume shrank to 5082, indicating weak buying interest.
【Buy and Sell Levels】

Buy Point 1: 2900 USDT (below the previous low of 2923.77, a key support level, combined with RSI oversold rebound demand)

Buy Point 2: 2850 USDT (above the daily low of 2787 on January 25, a critical support level, and the EMA120 long-term moving average zone)

Long Entry Stop-Loss: 2825 USDT (reserve 25 points buffer below the previous low of 2787)

Sell Point 1: 2950 USDT (multiple resistance at the 1-hour integer level, EMA7 resistance)

Sell Point 2: 3000 USDT (long upper shadow resistance on the daily chart, psychological level combined with EMA30 resistance)

Short Entry Stop-Loss: 3038 USDT (protective stop before breaking above the January 28 high of 3045)
ETH 1-Hour Price Trend: Down