ETH short-term alert for pullback risk: simultaneous emergence of upper hanging line and overbought signal

The 4-hour cycle K-line shows that the current price is above the EMA24 and EMA52 moving averages, but the latest K-line has formed an upper hanging line pattern, which, combined with RSI, has entered the overbought area, indicating that the short-term upward momentum may have dissipated. Member indicators show that the MACD bar chart continues to shrink, and the downward momentum is increasing, further verifying the risk of a pullback. In addition, the current trading volume has shrunk to 47.68% of the recent average level, indicating low market participation and suggesting that prices may be difficult to maintain high levels. The distribution of chips shows that strong support is located in the 2990-3012 range, but the current price is far away from the chip intensive area, and there is strong demand for retracement. Be alert to the risk of a rapid price drop near POC (2990.5). Open membership, accurately capture key trends, and lock in high and low points in advance! The data is sourced from the PRO member's [ETH/USDT Binance 4-hour] K-line, for reference only, and does not constitute any investment advice.