Reviewing last week's market performance, although the market tested lower multiple times, the downward momentum has significantly weakened compared to the previous two weeks, indicating that selling pressure is gradually diminishing.
From the 4-hour chart, the price is oscillating around the middle band of the Bollinger Bands, with the MACD indicator completing a golden cross and the gap continuously expanding, and the bullish trading volume is steadily releasing. This is a typical bullish accumulation signal.
Switching to the 1-hour timeframe, the situation is even more evident—the price has approached the upper band of the Bollinger Bands, with bullish volume remaining active, and the upward momentum is gradually building energy.
From the current technical pattern, Ethereum has a higher probability of consolidating and correcting around 2910-2820. Once stabilized, the focus for this week should be on the resistance levels at 2980 and 3180. In the short term, pay attention to the breakout situations at these key levels.
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GasDevourer
· 8h ago
Is the selling pressure exhausted? Then it's time for us to get on board...
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DataChief
· 8h ago
The term "selling pressure exhaustion" sounds comfortable, but I'm afraid it might just be another false alarm.
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CryptoGoldmine
· 8h ago
The signal of sell pressure exhaustion is indeed worth paying attention to, but I'm more concerned about whether the 2820 level can hold. From the perspective of mining pools, the ETH difficulty adjustment cycle coincides with this wave of correction, making the hash rate profitability quite interesting.
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MemeTokenGenius
· 8h ago
The selling pressure has exhausted itself, this is the rhythm of takeoff. Let's see if 2910 can hold.
#美联储回购协议计划 Ethereum Weekly Technical Scan
Reviewing last week's market performance, although the market tested lower multiple times, the downward momentum has significantly weakened compared to the previous two weeks, indicating that selling pressure is gradually diminishing.
From the 4-hour chart, the price is oscillating around the middle band of the Bollinger Bands, with the MACD indicator completing a golden cross and the gap continuously expanding, and the bullish trading volume is steadily releasing. This is a typical bullish accumulation signal.
Switching to the 1-hour timeframe, the situation is even more evident—the price has approached the upper band of the Bollinger Bands, with bullish volume remaining active, and the upward momentum is gradually building energy.
From the current technical pattern, Ethereum has a higher probability of consolidating and correcting around 2910-2820. Once stabilized, the focus for this week should be on the resistance levels at 2980 and 3180. In the short term, pay attention to the breakout situations at these key levels.
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