The 90 minute cycle shows that the current price is below the EMA24 and EMA52 moving averages, showing an overall downward trend. Member indicators show that the maximum trading volume in the chip distribution is concentrated in the range of 2412-2422, forming a strong resistance area, and there are obvious signs of pressure on the price around 2400. At the same time, the convergence of the KDJ indicator and the running below the MACD zero axis further confirmed the short-term bearish signal.
Recently, the price test has reached the support level of 2398.5. If it falls below this point, it may accelerate its downward trend towards the low volume area around 2380. The continuous decline in trading volume and significant decrease in market activity indicate that bearish forces are accumulating.
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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.
