March 29th【$ETH Trend】

1. Candlestick Patterns:

Recently (March 26th and 27th), there have been consecutive large bearish candles accompanied by increased volume, indicating strong selling pressure in the market, with prices dropping rapidly from high levels.
Subsequently (March 28th and 29th), the candlestick bodies became smaller, and trading volume decreased, showing that the downward momentum has weakened. The market is entering a short-term consolidation or hesitation phase, but overall remains weak.

2. Technical Indicators:

MACD: DIF and DEA are both below the zero line, with DIF continuously crossing below DEA. The MACD histogram is negative and expanding, indicating a strong bearish trend that is unlikely to reverse in the short term.
RSI: The RSI value has remained below 50, currently at 42.71, showing the market is in a weak zone but has not entered oversold territory, leaving room for further decline.
EMA: The short-term EMA7, mid-term EMA30, and long-term EMA120 are all in a bearish alignment (EMA7 < EMA30 < EMA120), and the current price of 1996.17 is well below all moving averages, indicating a clear downtrend. These moving averages will act as strong resistance levels above.

3. Volume:

The sharp declines on March 26th and 27th were accompanied by high trading volume, confirming the validity of the downtrend and market panic.
On March 28th and 29th, during sideways consolidation at low levels, volume significantly decreased, indicating that selling pressure has temporarily weakened. However, buying strength has not shown a clear increase, and the market remains in a wait-and-see state. ​$ETH ​#震荡行情交易策略