ETH1 Hourly Technical Analysis and Trading Strategy

The current ETH1 hourly period is in a short-term descending channel, with prices around 2062.03, overall pressured below the EMA moving average system, indicating a clear bearish trend.

From a technical perspective, since the price retreated from the high of 2385.78, it has been probing down along the descending channel, with moving averages in a bearish arrangement. The short-term moving averages such as EMA(7) and EMA(20) continue to suppress the price. The MACD indicator shows that DIF is 16.71, DEA is -16.47, and the MACD value is -0.50, with the green bars slightly increasing, indicating that bearish momentum is still being released. In terms of trading volume, the current volume is 32,796.33, significantly lower than the 5-day and 10-day average volumes. The decrease in volume indicates that selling pressure has not yet concentrated, but there is also a lack of sufficient buying support.

Key support and resistance levels are clear: the first short-term support level is at the round number of 2000. If it breaks down effectively, the second support level is 1918.39, with deep support at 1806.25; the resistance level above is at 2099.37. If the price rebounds to this area, it will face dual pressure from the EMA moving averages and the upper track of the descending channel.

In terms of trading strategy, the current trend is bearish, and it is recommended to focus on shorting at highs, with strict stop-loss settings when opening positions, prioritizing risk control. If the price probes down to around 2000 and stops falling, a small position may be tried for long orders, targeting 2099.37; if the 2000 level breaks, one should wait for a volume reduction stop signal at 1918.39 or 1806.25 before considering entering long orders. The market is highly volatile, so it is crucial to closely monitor changes in trading volume and moving average patterns to avoid blindly chasing orders.

Risk Warning: The cryptocurrency market is highly volatile. This article is for technical analysis reference only and does not constitute investment advice. Trading is at your own risk.

Follow Mei Jie, focusing on contract technical strategy analysis. The team still has positions available, hurry up to join #美联储3月议息会议 $ETH