ETH's short-term direction decision is imminent, with key support in the 2-hour cycle becoming the focus

Member data shows that the current price is hovering around the chip intensive area of 2993-2999, which accounts for 7.07% of the total trading volume and is an important support level in the near future. Combined with the MACD dead cross and continuous contraction of the bar chart, short-term action potential is accumulating. From the K-line pattern, it appears that a bottom pattern followed closely by a cross star has appeared in the past 2 hours, indicating a tight bullish and bearish force. Although the EMA double moving averages are in a bullish position, the trading volume has shrunk to 36.83% of the average level, indicating insufficient upward momentum. Open a membership now and get real-time chip distribution and accurate buying and selling point tips! 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.