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#ETH# 【Price Trend Analysis】
1. Candlestick Patterns:
- Recently, after significant price fluctuations, a pullback has occurred, forming long upper and lower shadows, indicating market uncertainty.
- On the hourly chart, the price quickly surged from around the low of 1485 to over 1670, forming a strong rebound.
2. Technical Indicators:
- MACD: The current MACD histogram is showing red and gradually shortening, indicating that upward momentum is weakening, and it may enter a correction phase.
- RSI: The RSI value is approaching the overbought zone but has not sustained high levels, indicating potential pullback pressure.
- EMA: EMA7 has broken through EMA30 and EMA120, indicating a short-term upward trend, but it is necessary to pay attention to whether it can maintain this position.
3. Trading Volume:
- The trading volume has significantly increased within the hourly period, especially during the sharp price rise, indicating a notable inflow of funds.
- The daily trading volume has also increased, supporting the recent price rebound.