Analysis of ETH Price Movement Using 1-Hour K-Line Chart

Price Trend Analysis】

1. K-Line Pattern:

The 1-hour timeframe recently formed a double top structure (2142.38 and 2158.61), and the current price has broken below the neckline at around 2080.

On the daily chart, a long upper shadow bearish candle appeared (highest 2163 on March 5, closing at 2072), indicating strong selling pressure above 2100.

2. Technical Indicators:
MACD: The 1-hour MACD fast and slow lines crossed below the zero line, with the histogram continuously expanding negative; on the daily chart, MACD(12,26,9) shows a -57/-100 bearish alignment.

RSI: The 1-hour RSI(14) is at 42.85, in a neutral to weak zone; the 4-hour RSI has failed three consecutive tests of the 50 resistance level.

EMA: Price is being suppressed by EMA7(2078) and EMA30(2091), with the 120-day moving average at 2039 serving as a key support.

3. Volume:
During the sharp decline at 01:00 on March 6, volume expanded to 331,072, forming an effective breakout signal.

On the daily chart, volume-price divergence occurred over the past three days: on March 4, a rise of 144 points with 8.27 million volume; on March 5, a decline of 54 points with 5.64 million volume.
【Buy and Sell Points】

Buy Point 1: 2030 USDT (daily EMA120 key support, extended support from the upward trendline formed by the March 4 low of 2053)

Buy Point 2: 2000 USDT (integer support level, also the neckline of the double bottom formed on February 28 and March 1)

Long Entry Stop Loss: 1980 USDT (20 points below buy point 2 to prevent false breakouts, and not more than 30 points away, which is 50% of the distance between buy points)

Sell Point 1: 2090 USDT (1-hour EMA30 resistance + supply zone formed by the previous high of 2086.59)

Sell Point 2: 2120 USDT (resistance at the start of the March 5 plunge + daily EMA7 dynamic pressure level)

Short Entry Stop Loss: 2140 USDT (20 points above sell point 2 to cover abnormal fluctuations like the high of the March 5 shadow at 2138.64)
ETH 1-Hour Price Trend: Downward