ETH 4-hour K-line technical analysis: weakening upward momentum, key price levels overview

【CryptoWorld】Looking at ETH performance over the past 4 hours, the price fluctuations are quite interesting. Compared to the level at 20:00 yesterday, there was a slight increase this time, but it retraced a bit compared to midnight on the same day. However, starting from 20:00 the day before yesterday, there has been a rebound.

On the chart, the last candlestick is a bullish candle, with the closing price above the opening price. But there’s a detail to note—despite the price moving upward, the trading volume is shrinking. Price rising while volume declines is a classic divergence signal, indicating that the upward momentum is gradually weakening.

Regarding technical indicators, although the MACD histogram remains in positive territory, its width is narrowing, showing that the bullish strength is clearly waning. The KDJ hasn’t shown a clear golden or death cross, but the values have entered the overbought zone (KDJ value at 85), which is a warning sign. Additionally, the MA10 is currently above the MA30, indicating a short-term advantage, but its strength is decreasing.

Based on these data points, here’s a summary of the trading ranges:

Long Position Setup

• First buy-in point: 2781.93
• Second buy-in point: 2777.0
• Long stop-loss: 2768.02

Short Position Setup

• First sell point: 2989.41
• Second sell point: 3047.0
• Short stop-loss: 3004.36

Key Support and Resistance

• Support level: 2777.0
• Resistance level: 3047.0
• Recent high: 2989.41
• Recent low: 2781.93

Overall, although the price is still testing upward, the momentum is indeed weakening. At this point, it’s important to defend against resistance above and also watch whether the support below can hold.