The 2-hour cycle K-line shows that ETH's latest trend has formed a black three soldier combination, with prices continuously falling below the support of the EMA24 and EMA52 moving averages. The member indicator J value is extremely oversold, indicating short-term rebound demand. However, the KDJ death cross signal has strengthened the downward momentum, and the current price is approaching the strong support area of 4760.
The distribution of chips shows a significant trading volume intensive peak in the range of 4302-4320. If the support of 4760 is lost, the price may accelerate towards the 4302 value zone. Based on multiple verifications of indicators, there is currently significant downward pressure.
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The data is sourced from the PRO member's [ETH/USDT Binance 2-hour] K-line, for reference only, and does not constitute any investment advice.