Early Morning Technical Analysis



Hourly Chart: The candle at 03:00 on March 10th forms a bullish engulfing pattern, with the bullish candle completely covering the body of the 07:00 bearish candle, indicating that after finding support around 1990, buying interest has re-entered, and the price shows signs of stabilizing and rebounding.

- Daily Chart: The candle on March 09th closed with a large bullish candle accompanied by massive volume, showing strong bullish momentum and continuing the rebound trend after the large bullish candle on March 04th. The current 03:10 daily candle (not closed yet) continues to rise, but there is selling pressure near the previous high around 2050.

MACD: The hourly MACD formed a death cross at 06:00, with the MACD histogram turning negative, indicating short-term momentum weakening and a correction phase. Both the DIF and DEA lines are above zero, but DIF remains below DEA, suggesting the short-term correction trend is ongoing, and attention should be paid to whether a golden cross can form later.

RSI: The hourly RSI approached the overbought zone (65-67) at 00:00, then fell back to a neutral zone (48.06 at 07:00), indicating short-term overbought conditions have been released. Currently, RSI has risen to 54.81, showing buying strength is recovering but has not yet entered a strong zone.

EMA: The hourly price is currently above EMA7, EMA30, and EMA120, with EMA7 (2010.95) > EMA30 (1996.57) > EMA120 (1995.79), all in a bullish alignment, indicating an overall bullish trend. The quick recovery at 07:00 saw EMA30 and EMA120 forming effective support in the 1995-1996 range.

Volume: Hourly Chart: The volume during the rise at 03:00 and 07:00 (7.5M) is relatively moderate. It is important to monitor whether subsequent volume can continue to increase to support further gains.

- Daily Chart: The large bullish candle on March 09th was accompanied by massive volume (364M), confirming strong upward momentum at the daily level. A large volume bullish candle also appeared on March 04th, indicating high market activity and intense competition between bulls and bears.
ETH3.41%
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