【Price Trend Analysis】
1. K-line Shape:
- Recent prices have gradually fallen from the high of 4175 on October 28, forming a continuous bearish trend with obvious downward momentum.
- After the recent low of 3680 (October 30), a rebound occurred, but it failed to break through the pressure level near the previous high of 3948.
2. Technical Indicators:
- MACD: The current MACD is in the negative territory, with both DIF and DEA moving downwards, and the histogram continues to expand, indicating that bearish forces are still dominant.
- RSI: The RSI hovers in the oversold range, currently at 41.04. Although there has been a slight rebound, it has not yet exited the weak zone.
- EMA: The short-term EMA7 (3834.39) is in a bearish arrangement with the medium-term EMA30 (3946.60) and long-term EMA120 (4015.94), with prices constrained by the EMA30 pressure.
3. Trading Volume:
- On October 30, the trading volume significantly increased to 155242, accompanied by a sharp decline, indicating heavy selling pressure.
- The trading volume on the morning of October 31 shrank to 40732, with market sentiment becoming cautious.
ETH Today's Price Trend Forecast: Sideways
Analysis based on data model deductions, does not constitute investment advice, for reference only. $ETH
