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Price Trend Analysis
K-line shape:
The 4-hour level has recently experienced a long downward shadow bottoming out (with a low of 2775.19 on December 19th at 20:00), indicating strong support below 2900
The daily chart closed positive for two consecutive days and broke through the previous high of 2980, forming a bullish swallowing pattern
The 1-hour chart has been repeatedly blocked at the 3000 integer level (highest at 3003.02 on December 20th at 04:00)
Technical Indicators:
MACD: The 4-hour DIF and DEA have a golden cross below the zero axis, but the daily chart is still in the bearish zone (-59.31/-50.77)
RSI: The 1-hour RSI (14) remains in the healthy range of 58-65, and the daily RSI has rebounded from 37 to 46, indicating a recovery in momentum
EMA: The price remains above EMA7 (2969.75), but EMA120 (3042.87) constitutes suppression
Turnover
On December 19th, there was a sharp drop in trading volume of 205063 ETH, followed by a rebound the next day and a decrease in trading volume to 36733 ETH, showing characteristics of selling pressure digestion
At the critical breakthrough level of 2980, accompanied by an increase in volume and energy (December 20th 12:00 17803 ETH)
The current 1-hour level can shrink to the 2000-4000 ETH range
[Trading Point]
Buy Point 1: 2950 USDT (previous low support+EMA30 overlap)
Buy Point 2: 2920 USDT (integer level support+50% retracement after surge)
Long stop loss point: 2900 USDT (below the daily low of 2894.57 key level)
Sell point one: 3020 USDT (EMA120 pressure level+historical selling pressure zone)
Sell Point 2: 3050 USDT (weekly level downtrend resistance level)
Short stop loss point: 3080 USDT (breaking through the previous high of 3107.06 to form a new high)
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Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.