The latest 90 minute cycle K-line shows that the current price is hovering around $4309, between the EMA24 and EMA52 moving averages. The exclusive chip distribution indicator for members shows that the strong support zone at the bottom is concentrated between $4009 and $4020, with a cumulative trading volume of up to 1.82 million USDT, forming a significant HVW high volume node. With the current trading volume significantly shrinking to 14.41% of the average level, it suggests that the market is brewing a correction.
On a technical level, KDJ continues to diverge after a dead cross, while the MACD bar chart continues to narrow, jointly verifying downward pressure with the distribution of chips. However, the current price is close to the key support band and is expected to compete above $4009.
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The data is sourced from the PRO member's [ETH/USDT Binance USDT perpetual 90 minute] candlestick, for reference only, and does not constitute any investment advice.