The current price is around 4178, testing the key support at 4176.5 (support level trading volume accounts for 5.04%), but the strong resistance above 4499 is significantly suppressed. According to the exclusive chip data of members, the main funds have formed a huge trapped market in the range of 4499-4514, and the current trading volume has shrunk to a recent low, indicating that the bulls are weak. Although KDJ has a golden cross on the indicator, EMA24/52 has a dead cross downward, and bears have an advantage.
Combined with the 1-hour cycle K-line, the cross star pattern suggests market hesitation, while the top segmentation structure suggests the formation of local tops, and a retracement may be inevitable. If it falls below the support of 4176.5 in the future, it will open up downward space.
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The data is sourced from the PRO member's [ETH/USDT Binance USDT Perpetual 1-hour] K-line, for reference only, and does not constitute any investment advice.