ETH under short-term pressure, alert to pullback risk
The current 2-hour cycle shows that the exclusive chip distribution indicator for members reveals a strong resistance at 4474, indicating a weakening of buying power. At the same time, the K-line showed a bearish swallowing pattern, coupled with the KDJ death cross, further verifying downward pressure. Although the price is above the EMA24/52 moving average, there is insufficient short-term action and caution should be exercised against the risk of a pullback to the 4390 support level. The continuous decline in trading volume and the market activity dropping to freezing point indicate a lack of confidence in the current rebound. If the price cannot stabilize at 4462, it is highly likely to seek support from 4390. Activate membership now to unlock precise chip distribution and trading point tips! The data is sourced from the PRO member's [ETH/USDT Binance USDT perpetual 2-hour] candlestick, for reference only, and does not constitute any investment advice.
