Member indicators show that the current price is below the moving averages of EMA24 and EMA52, and combined with the K-line, a meteor shaped pattern appears, indicating that short-term action can be hindered. Meanwhile, the distribution of chips reveals that 3141 USDT is a strong resistance level, with weak buying power and significant selling pressure above.
The latest 2-hour cycle K-line forms a cross star, with trading volume shrinking to the last 25% level recently, indicating a strong wait-and-see sentiment in the market. Although RSI has broken through the upward trend line, the growth of MACD bar chart has slowed down, and bulls lack confidence. Pay attention to 2977 USDT for support below, falling below or accelerating the downward trend.
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The data is sourced from the PRO member's [ETH/USDT Binance 2-hour] K-line, for reference only, and does not constitute any investment advice.