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【Price Trend Analysis】
1. K-line Patterns:
* The 4-hour chart shows that after experiencing a bullish candle with a lower shadow at 00:00 on April 24, closing at 2331.14, indicating some buying support at lower levels. However, the body of this bullish candle is small, and the trading volume has decreased, suggesting that the current rebound momentum is insufficient.
* On the daily chart, April 23 closed with a candle featuring long upper and lower shadows, with a relatively large body and accompanied by high trading volume, indicating intense competition between bulls and bears in this area. There is heavy selling pressure above but also support below. Overall, the daily trend remains in a correction phase.
2. Technical Indicators:
* MACD: On the 4-hour chart, the MACD DIF line (0.86) and DEA line (5.25) are both below the zero axis, with the DIF line below the DEA line, indicating the market is still in a bearish trend. The MACD histogram (-8.78) has expanded further negative compared to the previous period (-8.67), showing that short-term downward momentum is still strengthening.
* RSI: The 4-hour RSI value is 47.68, in the neutral zone, rebounding from a previous low of 42.98, indicating that the short-term oversold condition has eased but has not yet entered a strong zone.
* EMA: The 4-hour price (2331.14) is currently below the EMA7 (2337.28) and EMA30 (2339.82), both of which are converging and showing a downward divergence trend, exerting short-term pressure on the price. The EMA120 (2272.30), as a long-term moving average, currently provides support below the price.
3. Volume:
* On the 4-hour chart, the decline at 00:00 on April 24 was accompanied by a high volume of 79,024, while the latest rebound candle's volume (30,511) has significantly decreased, indicating that the current rebound lacks sufficient momentum and may be a technical correction during the decline.
* On the daily chart, the volume during the decline on April 23 (356,043) is close to the volume during the previous day's rise (379,707), showing strong bearish force, with substantial selling pressure at higher levels on the daily timeframe.