The 90 minute cycle K-line shows that ETH formed a top split and evening star combination after hitting the high of $4325, and member indicators clearly indicate the risk of reversal. At the same time, KDJ's death fork has entered the overbought zone, further verifying the downward pressure. The distribution of chips shows that the current price is approaching the key support of $4238, and if it falls below or quickly drops to the strong support area of $3654.
Short term EMA24 and EMA52 still maintain a bullish position, but RSI overbought suggests a pullback demand. Pay attention to the gains and losses of $4238 support, if it falls below, it may accelerate the downward trend.
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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.
