ETH Trend Analysis

Conclusion: Hourly period bottom divergence, friends who want to buy the dip can consider entering around 3200. The liquidated long whales are not convinced and are entering the market in large numbers to re-establish their long positions, supported by the 50% retracement support line.
K-line pattern: A long lower shadow appeared on the 1-hour level (low point of 3166.66), indicating short-term buying support. The daily level has seen three consecutive days of bearish closes, but after dipping to 3057 today, it rebounded, forming a hammer candlestick, suggesting that selling pressure is weakening.
Technical Indicators: MACD: 1-hour level DIF and DEA golden cross at low positions (-51.11 crossing -64.77), daily MACD green bars narrowing (-114.24→-84.22), bearish momentum weakening. RSI: 1-hour RSI (38.29) has exited the oversold zone, daily RSI (29.69) is still at a low level, indicating a rebound demand. EMA: Price rebound breaks through 1-hour EMA7 (3308.59), but daily EMA7 (3593.95) and EMA30 (3907.64) form a death cross, indicating the medium-term trend remains bearish.
Trading Volume: The 1-hour level plummeted to 3057 with a surge in volume (148541), and after a panic sell-off, there was a volume contraction rebound, indicating a divergence between volume and price that requires caution. On the daily chart, a huge bearish candle with increased volume on November 4 (1568004), today’s rebound lacks sufficient volume (407820), showing weak bullish follow-through. Key integer levels: Resistance above at 3350 (previous segment high) and 3400; Support below at 3200 and 3050 (previous low). Divergence signals: 1-hour MACD bottom divergence (price makes a new low while the indicator rises), if it breaks above 3300, it can confirm a short-term reversal. #eth